The United Kingdom (UK) and the United States of America (USA) are major trading partners of Pakistan and the country wants to further strengthen its trade and economic ties with these countries to achieve beneficial outcomes for its economy.
This was said by Acting President of Islamabad Chamber of Commerce and Industry (ICCI) Faad Waheed while addressing a delegation of Pakistani-origin politicians and the business community from the UK and USA that visited ICCI under the leadership of Imran Hussain, Member UK Parliament and Shadow Minister Employments.
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Faad Waheed said that Pakistan-UK bilateral trade is currently around £ 2.9 billion and Pakistan-USA bilateral trade is around US$ 10.5 billion, which is still below its actual potential. More serious efforts are needed to further improve Pakistan’s trade with UK and USA, he added.
He said that the Pakistani diaspora in UK and USA should play a more effective role in further enhancing the trade and investment relations of Pakistan with these important markets. He said that Pakistan is a huge market of over 220 million consumers with tremendous potential for joint ventures and investment in various sectors of its economy.
He invited the Pakistani diaspora in UK and USA to explore JVs and investment in Pakistan and assured that ICCI would extend all possible cooperation to them in such efforts.
Muhammad Azhar ul Islam Zafar, Vice President ICCI, said that Pakistan has good potential to export more products to UK and USA. He stressed upon regular exchange of trade delegations to explore all untapped areas of mutual cooperation of Pakistan with the UK and USA. Khalid Iqbal Malik, Group Leader ICCI said that the Pakistani diaspora should consider investing in housing & construction, oil & gas exploration, infrastructure development, tourism, and other sectors in Pakistan.
He said that ICCI would provide its full cooperation to connect them with the right partners in Pakistan.
Speaking at the occasion, Imran Hussain said that they all are friends of Pakistan and want to act as a bridge between Pakistan and UK.
He thanked ICCI for giving a warm reception to the delegation, and invited the ICCI delegation to visit the UK.
Lord Wajid Khan and Lord Qurban Hussain, Members of House of Lords UK, Yasmin Dar Deputy Mayor of Manchester, and others also spoke on the occasion and stressed that Pakistan should create a conducive environment for young Pakistani diaspora in UK and USA for investing in Pakistan.
