KARACHI: UK State Minister for Trade and Investment Lord Green said on Thursday that Pakistan and United Kingdom will be making important headway in expanding bilateral trade in next four years. He was replying to the queries of media persons’ alongwith UK
Cabinet Minister Baroness Sayeeda Warsi at the launch of a British chain of departmental stores Debenhams in the city.
He said investment opportunities were being existed in UK and Pakistan for the business community and the businessmen of both the countries should capitalise these openings.
He said that British companies were already working in pharmaceutical sector in Pakistan. But more focus will be placed on pharmaceutical side as British investors see more opportunities in this sector in future, besides investing in education and retail services in Pakistan.
Lord Green, who for the first time visiting Pakistan, said that large number of opportunities is available here for British investors especially in retail services with particular reference to branded goods.
He said economic partnership between the two countries was flourishing and UK was fully committed to building on the bilateral trade relationship between the two countries.
This new store represents further progress towards our goal of increasing the bilateral annual trade of 1.9 billion sterlings flowing between the countries.
Baroness Sayeeda Warsi said she was proud that a British company 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", she noted. Ms Warsi said UK and Pakistan were already making great progress in the goal of increasing trade between the two countries, with double digit rise in both directions in the last year. But we are ambitious and keen to do more, she added.
She said the coalition government, which was installed in UK 18 months ago, is supportive of democracy in Pakistan which is in infancy.
British Deputy High Commissioner and Director UK Trade and Investment, Francis Campbell said that Pakistan has potential to be primary target for all British brands who want to benefit from this relatively untapped market.
The departmental store Debenhams will be opening in April this year over an area of 27,000 square feet under a franchise Team A
Venture Pakistan.
Comments
Comments are closed for this article.