UK-Pakistan Trade Relations Soar as Delegation Explores Business Prospects Across Cities

Islamabad, (Adnan Hameed) – In a significant stride towards fostering economic ties, a delegation comprising 15 UK business representatives, spearheaded by the Presidents of the Birmingham, West, and North Yorkshire Chambers of Commerce, along with the Asian Chamber of Commerce, is currently on a mission to explore business opportunities in Pakistan. The focus industries include textiles, agrifood, handicrafts, and home decoration. Organized by the International Trade Centre (ITC) and generously funded by the UK Government, the delegation is set to engage with chambers of commerce in key cities such as Karachi, Lahore, and Sialkot. As part of their itinerary, delegates will attend the "We Exhibit" trade fair in Sialkot, showcasing women-led businesses, further funded by the UK Government. The delegation's visit extends until 03 March. British Deputy High Commissioner and Director of Trade Pakistan, Sarah Mooney, emphasized, "Trade between the UK and Pakistan is already growing at an impressive rate. This delegation clearly shows the interest in growing that, and the opportunities that lie ahead for increased trade and investment. The UK will continue to work with the Government of Pakistan, supporting changes that make trade fairer and easier for everyone." The mission aims to provide delegates with valuable insights into Pakistan's business environment and specific market requirements for importing from the country. Facilitating direct connections between UK companies and potential Pakistani suppliers, the delegation seeks to raise awareness of the extensive business linkages possible between the two nations. As part of this initiative, ITC will launch an export readiness handbook and two export guides, available in both English and Urdu, to assist Pakistani exporters in understanding UK market guidelines. The UK stands as Pakistan’s third-largest trade partner, with a total trade volume of £4.3 billion, and holds the position as the third biggest source of foreign direct investment. The UK’s Development Countries Trading Scheme has played a pivotal role in opening new avenues of trade by reducing tariffs and simplifying trade terms for 94% of Pakistani exports.