ISLAMABAD: The Ministry of Commerce is striving for increasing the volume of bilateral trade between Pakistan and Britain with active engagement of the Pakistani community in UK.
The ministry is planning to take advantage of the existing scope of import from England and to promote the export of high value-added textile products to England, bringing the trade volume to 2-3 billion pounds.
According to sources, the commerce minister has held a detailed discussion with high commissioner-designate to England and expressed the government’s resolve to increase bilateral trade volume in the coming years.
Currently, Pakistan’s trade with England stands at 2 billion pounds out of which Pakistan’s exports are 1.4 billion pounds suggesting that the balance of trade is clearly in Pakistan’s favour.
England has a huge Pakistani diaspora which is settled there since decades. They are working in every sector and providing huge revenue through remittances to Pakistan.
However, the minister expressed his concern that the Pakistani companies are not well entrenched in the vast financial markets of Britain. He directed the high commissioner to engage the Pakistani community and guide it about the business and trade opportunities in Pakistan.
