UK trade envoy to Pakistan vows to increase bilateral business ties

UK Government’s trade envoy to Pakistan, Rehman Chishti, center, met with Chairman of Port Qasim Asad Chandana during his visit to Pakistan. (Photo courtesy: British High Commission Pakistan)

• Around 120 British firms operate in Pakistan, making it the third largest source of foreign direct investment for the country
• The UK-Pakistan bilateral trade in 2017 reached £2.9 billion ($3.8 billion), with Pakistan exporting £1.8 billion ($2.5 billion) of goods and services to the UK

ISLAMABAD: The UK Government’s trade envoy to Pakistan, Rehman Chishti, reiterated the British premier’s commitment to engaging Pakistan’s newly elected government in creating a healthier and a more viable business environment, the UK High Commission in Pakistan said on Sunday.
Chisti concluded his four-day visit to Pakistan today, his third visit since his appointment in September 2017.
“His visit comes just after the UK has overtaken China to become Pakistan’s second largest export market in the world,” the British High Commission said.
“Currently, the British government is supporting the World Bank to help the Federal, Punjab and Sindh Governments in targeting, coordinating and communicating reforms to improve Pakistan’s business environment and attractiveness to foreign investors,” the statement added.
The UK also constitutes the largest export market for Pakistan in Europe. “It will not surprise anyone that the UK is Pakistan’s largest export market in Europe, but what many do not know is this year the UK has just overtaken China to become the second largest (export market) in the whole world,” Chishti said.
The UK-Pakistan bilateral trade in 2017 was £2.9 billion (approximately $3.8 billion), with Pakistan exporting £1.8 billion ($2.5 billion) of goods and services to the UK and the UK exporting £1.1 billion ($1.4 billion) of goods and services to Pakistan, the UK High Commission shared the details.
The UK is also Pakistan’s third largest source of foreign direct investment, with more than 120 British firms operating and investing in Pakistan, the High Commission said.
“Major UK businesses succeeding in Pakistan include Mott MacDonald in infrastructure development, who played an integral role in the development of the new Islamabad Airport; consumer goods company Reckitt Benckiser; Standard Chartered and UBL in banking; pharmaceutical company GlaxoSmithKline; and Shell in oil and gas,” the High Commission said.