Trade between Pakistan, UK reaches $2.3 billion mark

Bilateral trade between Pakistan and United Kingdom is on steady rise as it has reached to $2.3 billion this year. Representatives from at least 30 companies of UK have visited Pakistan to attend the ongoing 7th Expo Pakistan, said Muhammad Hamid Ali, Consul/Commercial Secretary of Pakistan High Commission in UK while addressing a reception hosted by British Deputy High Commissioner on Thursday.
He said that efforts and commitment of both governments were there to achieve the target of 2.5 billion Euros by 2015. According to him, the recent duty waiver from European Union on 75 selected products from Pakistan will encourage British businesses to buy from Pakistan and it is hoped that the Expo Pakistan 2012 will provide a useful opportunity to avail this duty waiver.
"We greatly appreciate the warmth and hospitality extended by Francis Campbell and his team at the British High Commission, Karachi for welcoming the British delegation to the Expo this year," he said. Addressing the gathering, Francis Campbell, Director for Trade and Investment and British Deputy High Commissioner, said "due to the UK's historical and cultural links and easy use of English as the business language, Pakistan presents numerous and significant opportunities for investments aiming both at using Pakistan as an export base and at tapping into an emerging market with a rapidly growing middles class. On the other hand, UK companies have the latest knowledge and technology in the areas of agriculture, healthcare and energy which are much needed in Pakistan to develop the country's industrial base."
He said, "events like Expo Pakistan facilitates this exchange of people, knowledge and ideas and are crucial in achieving our objective of increasing bilateral trade between the UK and Pakistan." The visiting British buyers/importers also attended the reception arranged to meet with government functionaries, businessmen and other stakeholders. The representatives from 30 UK companies recruited by the British High Commission in London and Pakistan Consulate in Manchester had arrived here on Thursday to attend the mega trade fair.