UK Trade and Investment Director Hamish Daniel has said that Britain, being the largest investor in Pakistan, wants to multiply its investment here and is taking all necessary steps in this regard.
He expressed these views while speaking at the Lahore Chamber of Commerce and Industry (LCCI) on Thursday.
LCCI President Mian Shafqat Ali, Senior Vice-President Abdul Basit, Vice-President Aftab Ahmad Vohra and former LCCI president Mian Misbahur Rehman were also present on the occasion.
Hamish Daniel said that a number of projects were in the pipeline, as the consistent economic policies of the present government had impressed the potential British investors, who had shown their desire to shift their operations to Pakistan, which is not only a corridor to Central Asian states, but also fast getting the status of regional economic leader.
He said the British government would continue to facilitate Pakistani businessmen for the promotion of trade between the two countries. The relations between Pakistan and UK are developing very positively, as a lot of high-ranking visits are expected this year, he added.
Speaking on the occasion, the LCCI chief thanked the British government for getting anti-dumping duty on the export of bed-linen reduced from 9.9 percent to 5.8 percent by the European Union.
Although the trade between Pakistan and UK has been gradually growing from $1.1 billion in 2002-03 to $1.4 billion in 2004-05, showing an increase of 27 percent, but it still leaves much to be desired at in view of the historical relationship between the two countries, he added.
"The participation of Pakistani exporters in the international trade fairs in the UK and vice versa could also expand trade between the two countries", he added.
Shafqat Ali said that Pakistan offers good scope for investors in information technology, telecommunication, infrastructure, textiles (value-addition), oil and gas, water and power, food and food processing, SMEs, engineering, and tourism and services. "We are particularly keen in British investments that could provide transfer of technology to Pakistan", he added.
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