LONDON: The Pakistan High Commission, London organized a Virtual Khuli Katchehri on Trade and Investment opportunities between Pakistan and the United Kingdom on (Wednesday) 7th July. More than 70 British and Pakistani businessmen, office bearers of the chambers, and trade bodies attended the event. The objective of the event was to answer queries of the British and Pakistani business community on import potential from Pakistan, tariff concessions available in the UK market and to apprise the participants about investment prospects in Pakistan. The event was attended by many existing and potential investors with keen interest in doing business with Pakistan.
Pakistan High Commissioner to the UK, Moazzam Ahmad Khan, Director General Board of Investment, Pakistan Mr Jamil Qureshi, Mr Shafiq A. Shahzad, Trade and Investment, Pakistan High Commission London and Mr Akhtar, Commercial Secretary, Manchester responded to the questions raised by the participants.
The High Commissioner during his welcome remarks stated that the UK was one of the largest trading and investment partners of Pakistan. He said that despite Covid -19 pandemic, and nationwide lock down, Pakistani exports to the UK and remittances from the UK recorded the highest ever growth and underlined the need to sustain this momentum. He expressed his intention that the Pakistan High Commission, with the help of the business community, was endeavouring to further strengthen Pakistan-UK economic relations. Holding of such events bears testimony to this fact, he stated.
During the course of discussion, the business community raised various issues including the need for institutional reforms, trade disputes resolution mechanism, high cost on lands in the Special Economic Zones, and potential sectors for investment. While responding to the questions, the High commissioner stated that the issues would be taken up with the authorities concerned in Pakistan and persistent efforts shall be made to address these concerns.
On this occasion, the High Commissioner asked the diaspora to open a Roshan Digital Account (RDA) for sending their remittances to Pakistan and benefit from investing in Naya Pakistan Certificates under RDA. Appreciating the contribution of the diaspora, the High Commissioner urged the diaspora and foreign investors to take advantage of Pakistan’s pro-business investment policy, One Window Facility for investors being offered by the Board of Investment and Ease of Doing Business reforms.
Mr. Jamil Ahmad Qureshi, DG Board of Investment, Pakistan appreciated the creation of this platform whereby the business community could informally discuss issues of bilateral trade and investment and concerns could be addressed immediately. In view of the positive feedback, it was agreed to hold such events on a regular basis.