A delegation of UK businessmen is on a visit to Pakistan as part of agreement between two countries to double the bilateral trade by 2015 from current volume of 1.6 billion pounds sterling. The British High Commission hosted a reception on Sunday to welcome the businessmen''s delegation.
Talking to media about the activities of the delegation during their one-week stay, Deputy High Commissioner of UK to Pakistan, Peter Tibber, said that their visit was the part of a programme to enhance business activities to achieve the target of 2.5 billion pounds sterling. He said the target had been set during the visit of British Prime Minister to Pakistan in April 2011. He said that the two governments had agreed to double bilateral trade by 2015 from the present volume of 1.6 billion pounds sterling in both goods and services.
Regarding whether the target is achievable when Pakistan has been facing security and load shading problems, he said the problems must be addressed, and added that it was two-way traffic. Pakistani companies working in UK could get advantages from the activities and programmes which were under processed by both governments to achieve the target of enhancing bilateral trade, he said.
He said the British had second largest investment in Pakistan. Major UK companies are engaged in financial services, retailing and pharmaceuticals sectors. Around 100 British companies are working in Pakistan, he said.
The Deputy High Commissioner said that Pakistan-British Trade and Investment Delegation represented the 20 members of British Businessmen. The visiting delegation would explore the potential in finance, energy and mineral sectors.
About the specific field in mining, he said the companies would explore after studying the market.
Commenting on the law and order situation in Karachi, he said that Britain had very strong relationship with Pakistan and always helped Pakistan in security, development and other issues. "We are also in dialogue with different political parties on the issue of Karachi", he added.
He said that the British government responded quickly to help the government in relief activities after flood hit some parts of Sindh Province. "We are awaiting the outcome of need assessments so that support can be provided accordingly", he said.
The head of delegation, Sir Thomas Harris, Vice Chairman of Standard Chartered Bank and Chairman of Pakistan Britain Trade and Investment Forum said that Pakistan is geologically nrich country. "We are focusing to explore coal, copper, minerals as Pakistan enriches in these sectors", he said. Talking about his plan, he said that the delegations would visit Karachi, Lahore and other parts of countries and would hold series of meetings with government officials to seek business opportunities in particular sectors.
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