British minister sees trade with Pakistan exceeding $1.5 billion this fiscal year

British Minister of State at the Foreign and Commonwealth Office Dr Kim Howells has estimated that trade between Pakistan and Britain would exceed 1.5 billion dollars this fiscal year.
He was delivering address on "Moving Peace and Prosperity Forward" to students, faculty, diplomats and representatives of the corporate sector at the Institute of Business Administration on Monday.
Howells said that the UK was intensifying trade links with Pakistan and the British business interest in Pakistan was growing with UK already the second largest investor in Pakistan.
He said, "This year, trade between the two countries will exceed one and a half billion dollars."
Howells said a 17-member trade delegation from the Birmingham Chamber of Commerce was in Karachi and in the near future other missions to Pakistan would follow, including one from Glasgow.
He said that Pakistan's economy was strong but poverty was still widespread.
The British Minister of State said, "We are contributing 450 million dollars over three years, to support Pakistan's economic reforms, health care and education."
He said that Pakistan's economy was growing at healthy rate. "Now is the time to add more value, to infuse that growth with product of new skills, of open intellectual debate and creativity."
Howells said, "There will be millions in Pakistan who aspire to create for their fellow citizens a quality of life that can hardly be imagined now. We must help them to turn those aspirations into reality."
He said that he had particular interest in the role of universities as major drivers of modern economies.
He said, "I hope that Pakistan and the UK will seek to develop ways that enable universities to enhance education in general in Pakistan so that they become fit for purpose."
What is that purpose? He posed this question and said that nothing less than enabling Pakistan to tap the enormous potential of its greatest assets - its mighty people.
He said that to achieve this purpose revolutionary changes in education, from primary school to postgraduate study would be needed.
"It will mean educational institutes developing curricula that meets the demand of a world increasingly dominated by cutting-edge technology, superior design, intelligent management and vision."
Talking about terrorism and President Musharraf's determination to continue to fight against it, Howell said that he knew that Pakistan understood only too well the horror of indiscriminate violence and that, as President Musharraf had recognised, extremism was one of the biggest challenges facing Pakistan.
He said, "The co-operation that we received from Government of Pakistan is relation to the London attacks has been exemplary."
He said that the United Kingdom was home to two million Muslims, over half of whom are of Pakistani origin. "We are proud of our record on cultural diversity, tolerance and inter-faith links, which I believe, is among the best in Europe. Our country encourages and protects religious freedom."
Howells said that the UK was passing new laws making religious hatred provocation a criminal offence - giving religious people the same protection as others enjoy by virtue of their race.
He said that like every country in the world UK was deeply shocked by October 8 earthquake and the devastation and suffering it caused.
British research and rescue teams were among the first foreign rescuers on the ground in Islamabad and Muzaffarabad, Howells said, adding: "These rescue teams were responsible for saving over half of those recovered alive from the debris. We financed 15 airlifts to the region, carrying over 1100 tonnes of relief supplies."
He said that last week Britain announced an increase in funds to support the relief efforts bringing the total pledged assistance to over 220 million dollars.
"The British public through national appeal has donated a further 72 million dollars."
He said, "I should like to mention, also, the generous contribution made by British companies based in Pakistan and by the business community in Britain. The UK is now the second largest donor after the US."
Earlier, IBA Director Danishmand presented the welcome address.