'UK committed to building bilateral trade ties with Pakistan'

UK State Minister for Trade and Investment Lord Green said on Thursday that Pakistan is a good place for British investors and the UK government is also fully committed to building on bilateral trade relationship between the two countries.
He was responding to media queries at the launch of a British chain of departmental stores- Debenhams in the city. UK Cabinet Minister Sayeeda Warsi, British Deputy High Commissioner Francis Campbell and Yasin Paracha from Team A Ventures Pakistan, the franchisee of Debenhams in Pakistan, also attended the launch event.
The 27,000 sq foot store will be opened in April this year. Debenhams will be joining other British brands in Pakistan like Next, Mothercare, Early Learning Centre, Accessorise and Monsoonto bring popular goods to a growing market. Lord Green said that encouraging more British companies, including those in the retail sector, to consider Pakistan as an investment destination would help strengthen trade ties between the two countries, he said. "This new store represents further progress towards our goal of increasing the £1 .9 billion worth of trade that already flows between our two countries every year."
Speaking on the occasion, Sayeeda Warsi said, "I am proud that it is a British company that is opening up the first international departmental store in Pakistan. UK retail companies are up there with the best in the world, so I hope that many more will look to invest in and create jobs in Pakistan. We are already making great progress in our goal of increasing trade between our two countries, with double-digit rises in both directions in the fast year, but we are ambitious and keen to do more."
British Deputy High Commissioner and Director UK Trade and Investment Francis Campbell said Pakistan has the potential to be the primary target for all British brands who wanted to benefit from this relatively untapped market. He said that UKTI were delighted to work with Team A ventures in helping Debenhams achieve this milestone. They would be joining other British brands in Pakistan such as Next, Mothercare, Early learning Centre, Accessorize and Monsoon in targeting the country's emerging urban and middle classes, he added.
General Manager for Debenhams in Pakistan, Adnan Hamid said that Debenhams, with a portfolio of internationally renowned fashion designers, 65 franchises around the world, is here to change lifestyles. In an enthusiastic market like Pakistan, it is going to get bigger and better - the perfect international offering for an extremely prospective local market, he added.