ISLAMABAD: Ambassador of the European Union (EU) to Pakistan, Dr Riina Kionka, called on Federal Minister for Commerce Jam Kamal Khan to discuss strengthening bilateral trade ties and upcoming business engagements between the EU and Pakistan.
During the meeting, Dr Kionka invited the Commerce Minister to deliver closing remarks at the European Union-Pakistan Business Forum (EU-PKBF), scheduled on 14-15 May 2025, in Islamabad.
The forum aims to facilitate high-level dialogue, strengthen business partnerships, and unlock trade and investment opportunities between the EU and Pakistan. It will feature investment presentations, B2B and B2G matchmaking sessions, and focus would be on key sectors such as agribusiness, IT, machinery, textiles, pharmaceuticals, and green infrastructure.
Pakistan, EU discuss GSP+ status
Another key highlight of the discussion was the launch of the EU-Pakistan Business Network (EUPBN) during the Forum. This network, comprising of more than 300 EU companies operating in Pakistan, will serve as a unified voice of European businesses, fostering investment and trade relations.
Minister Jam Kamal Khan welcomed these initiatives and appreciated the EU’s role in supporting economic cooperation. He acknowledged that the growing engagement between Pakistan and the EU will create stronger business ties and new investment opportunities. The EU is Pakistan’s second-largest trading partner and primary export destination, accounting for around €12 billion in bilateral trade in 2024.
The EU-Pakistan Business Forum will further deepen the long-standing economic and diplomatic partnership between Pakistan and the EU.
The Special Investment Facilitation Council (SIFC) is reportedly preparing strategy for the EU-Pakistan high-level business forum in May 2025, aimed at bringing improvements in economic relations between Islamabad and European capitals.
The first issue was the Global Gateway Initiative and European Fund for Sustainable Development +. The participants delved into the possibilities of EU investment in infrastructure projects in Pakistan. These initiatives would bring significant funding and expertise, potentially transforming entire sectors of Pakistan’s economy.
SIFC has also discussed GSP+ status. Pakistan’s continued eligibility for the Generalised Scheme of Preferences Plus (GSP+) was a key point as it allowed the country preferential access to the EU market. The meeting discussed long-term benefits and continued success in maintaining GSP+ status. The meeting engaged in a thoughtful exchange on how to sustain this advantage, ensuring Pakistan’s goods remained competitive on the European stage.
The meeting also discussed avenues of Pakistan’s IT sector growth. A sector brimming with potential, it became evident that both the EU and Pakistan stood to gain from deeper collaboration.
The idea of hosting sector-specific breakout discussions and investment pitching sessions was embraced, with several stakeholders’ eager to engage the tech community on both sides.
Security arrangements for the business forum also came under discussion. It was stated that with high-profile guests attending, including government officials and business leaders, ensuring safety was a top priority.
Coordinating these arrangements would be no small feat, but the task force would rise to the challenge.
Copyright Business Recorder, 2025
Comments