U.K. businessmen recognise Pakistan as huge emerging market

LAHORE, April 11: Pakistan is a huge emerging market. British businessmen recognize its importance and are ready to further grow trade and economic ties with their Pakistani counterparts to avail the available opportunities.
British Deputy High Commissioner John Tucknott stated this while addressing a meeting at the LCCI. British Deputy High Commissioner said “we want to work with you. Give us ideas, give us projects, UK is ready to extend maximum cooperation.”
He said a huge positive change has been witnessed in Karachi as far as law and order situation is concerned.
John said both countries have long historical relations, which should be more meaningful. He said that a number of UK companies are already working in Pakistan which is an ample proof of the fact that UK recognizes Pakistan as a potential market.
“These are the most exciting times for UK-Pakistan commercial ties to grow as synergies exist in the private sectors of both countries,” British Deputy High Commissioner added.
With an objective to increase bilateral trade and investment, the UK Investment and Trade (UKIT) is planning to establish British Business Centres in all the major cities of Pakistan. He said that the British Business Centre would provide expert trade advice and practical support to the companies who want to grow their business overseas.
“Through a range of unique services, these Business Centres would help businessmen to trade successfully in foreign markets and become familiar with overseas business practices,” John said.
LCCI Senior Vice President Almas Hyder said that Pakistan is much easier, convenient and safest country for doing business therefore businessmen of UK should come forward accelerate the pace of joint ventures with Pakistani businessmen. He said that Pakistan is a huge potential market and could provide huge dividends to foreign investors.
He said that Pakistan attaches a lot of value to such facts that UK comes at 4th place among the top export markets in the world for Pakistan. With regard to major importing countries to Pakistan, UK takes the 15th position. Almas said that it is an encouraging sign that two way trade and especially our exports are increasing at a healthy rate. From 2013 to 2014, our bilateral trade has gone up from 1.98 billion dollars to 2.26 billion dollars. There was an increase in exports to UK amounting to 223 million dollars. He said that since UK’s contribution is one of the highest after USA in net flow of foreign investment in Pakistan, so we wish that UK may further enhance the existing level of investments in our country. It will certainly help us in maintaining international peace, attaining economic stability and ensuring long term prosperity.-Agencies