Leader of the UK Trade Delegation Mohammad Arshad Chaudhry has floated the proposal of declaring UK City Leeds and Lahore as twin cities, apart from developing a contact liaison between the Lahore Chamber of Commerce & Industry (LCCI) and Chambers in Leeds and Bradford.
He was speaking to the office-bearers and members of the LCCI here on Saturday. Arshad Chaudhry was heading a 26-member businessmen delegation mainly from Yorkshire region having both Pakistani and Indian origin people.
He said that Leeds is business hub of UK and Lahore is fast gaining the status of an industrial city. He said that British Pakistanis are visiting Pakistan to make investment, and they had signed a number of agreements in Karachi. He expressed the hope that more business contracts would be inked in Lahore. He sought assistance of the LCCI in developing joint ventures between UK and Pakistani businessmen.
Ms. Lorraine Ellison, representative of UK Investment and Trade Department, said on the occasion that UK government is sending its businessmen to visit Pakistan so both sides could get benefit of each others' experience.
Other delegation members Arshad Javed and Pritpal Singh Bhabra on the occasion expressed their willingness to do business with Pakistan.
Earlier the LCCI President Mian Misbah-ur-Rehman in his welcome address said that the investment climate in Pakistan is very conducive, therefore British Pakistanis should avail the opportunities to reap the benefits being offered by present government. He was of the view that constant business contacts are key to success and hopefully this visit would produce desired results. He said our current level of trade ties also make a strong case for expanding economic co-operation. There has been progressive increase in the volume of trade. 'Pakistan is now on the road of political and economic stability. We need positive response of the foreign investors to prove that our country is an attractive investment destination. The development of Gwadar Port City and Industrial Estates all over the country provide the best possible infrastructure facilities to the investors', he said.
Pakistan's exports to United Kingdom jumped from US$ 580 million in 1999-00 to US$ 941 million in 2003-04. Pakistan's imports from United Kingdom also jumped from US$ 356 million in 1999-00 to US$439 million in 2003-04. Likewise the volume of trade improved from US$934 million to US$1379 million during the same period.
The LCCI President said that Lahore, long regarded as a cultural capital of Pakistan is now demonstrating its economic dynamism. The development of Sundar Industrial Estate, an international airport and road-cum-rail linkages to Indian Punjab are the advantages and no investor can afford to ignore it. Its central place in the agricultural and industrial map of Punjab province makes it a viable place to invest.