PID

PR No. 45 “Minister for Commerce proposed the formation of Joint Trade Committee (JTC) and Business to Business Conference with UK to boost bilateral trade.” “UK should provide GSP plus like facility to Pakistan” …..Engr. Khurram Dastgir Khan Islamabad: January 5, 2017

The honorable Federal Minister for Commerce, Engr. Khurram Dastgir Khan said this in a meeting with a high level delegation from UK, led by Rt. Hon. Alok Sharma MP, Parliamentary Under secretary of State for the Foreign and Commonwealth.

Mr. Alok Sharma said that relationship between Pakistan and UK is both deep and wide and that UK supported Pakistan in getting GSP plus facility. He further discussed various proposals for boosting bilateral trade between the two countries, investment of British firms in CPEC Projects and facilitation of British Companies working in Pakistan.

Minister for Commerce said that Pakistan will provide full support to the British Companies who are interested in investment in different CPEC projects and that all their concerns regarding the openness, transparency and their access to the bidding process will be addressed.

Regarding GSP plus minister deeply appreciated the support of UK in GSP plus and also communicated the concerns of the Pakistani exporters post Brexit to the delegation and also proposed that UK should provide GSP plus like facility to Pakistan.

Mr. Alok Sharma said that most likely UK will continue to be part of EU till March, 2019 and after that UK and Pakistan can make such arrangements to boost bilateral trade.

Currently the bilateral trade between Pakistan and UK is 1550.85 million Euros with Exports of 1006.94 million Euros and imports of 543.91 million Euros in 2016. While in 2013 the exports were 745.42 million Euros and imports of 379.73 million Euros. As a result of GSP plus status Pakistani exports to EU increased from 3478.75 million Euros in 2013 to 4767.39 million Euros in 2016.

The Minister further said that in order to boost bilateral trade Pakistan and UK must have Business to Business (B2B) conferences and also form a Joint Trade Committee (JTC) for discussing various bilateral trade arrangements.

At the end Minister for Commerce, Khurram Dastgir Khan appreciated the UK assistance in education and said that it has provided depth to Pak-UK relationship.

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