ISLAMABAD: Oliver Christian, the UK trade commissioner, met with Federal Minister for Commerce Jam Kamal to explore avenues for enhancing bilateral trade.
The meeting highlighted the need for sectoral collaboration and a business-to-business matchmaking approach to target growth areas in both countries.
Jam Kamal emphasised Pakistan’s immense potential in the food sector, particularly, through value addition. “Pakistan currently can get more foreign exchange by focusing on value addition,” he noted.
The minister underscored the government’s commitment to expanding trade, particularly under the leadership of Prime Minister Shehbaz Sharif.
He praised the prime minister’s dedication to achieving an ambitious export growth plan, aiming to increase exports from US$30 billion to US$60 billion.
The minister also highlighted Pakistan’s success in organising the FoodAg Expo in Karachi, where more than 800 foreign delegates participated.
“This was the first event of its kind, with such a large international presence, and it opened doors to significant business opportunities,” he added.
Kamal cited Pakistan’s growing exports in other sectors, such as IT, mining, horticulture, and dairy, and discussed the potential for future exports, including olive products. “Pakistan is on its way to becoming a significant olive exporter, with vast cultivation under way,” he informed.
The UK trade commissioner acknowledged Pakistan’s vast potential and extended full support for increasing the trade volume between the two nations. Both sides emphasised the importance of the UK-Pakistan Trade Dialogue, a platform to be established soon to promote trade and investment.
As the UK diversifies its import sources post-Brexit, the minister highlighted Pakistan’s potential to become a key supplier of food products to the UK, given its compliance with international standards.
This discussion marked a significant step in strengthening trade ties, with both parties expressing optimism for the future of UK-Pakistan trade relations.
Copyright Business Recorder, 2024