'It's a very good place to invest'

United Kingdom's Minister for South Asia, Alistair Burt, in an exclusive talk with the Business Recorder, states that Pakistan must help itself by creating the right environment for investment and people would then come in by way of trade. British companies are keen to invest in Pakistan's energy sector in order to assist the country cope with the energy crisis, according to him. The following are excerpts from the interview:
Business Recorder : India has stalled the European Union package of enhanced trade in lieu of assistance for Pakistan's flood victims in the World Trade Organisation (WTO). Will the government of United Kingdom play a role in convincing India not to oppose the package?
Alistair Burt: The United Kingdom responded to floods in Pakistan in a variety of ways. Our aid and development package was very strong with a huge network from the government and our people engaged in relief activities. We understand that Pakistan needs support from the European Union through WTO in terms of access to its markets. We have made this call repeatedly with our colleagues in the EU and WTO and we would continue to do so. We will make and support Pakistan case across the board.
Business Recorder : Pakistan these days is facing a severe energy crisis. Is there any possibility of strengthening ties in this sector between the two countries?
Alastair Burt: United Kingdom has expertise in power sector and we have companies that can do very innovative things. Our companies are very interested in creating energy from waste and we have companies working very actively in the energy sector. UK companies are willing to come to Pakistan and invest in the power and energy sector. I am here to take the message to United Kingdom to encourage more companies to invest in Pakistan's energy sector.
Business Recorder : Does UK government believe that trade and not aid is the way forward for development?
Alistair Burt: The important thing is that Pakistan must place itself in a position to help itself; this is the most important thing for Pakistan: that it takes appropriate steps to strengthen its economy and makes itself a good place to invest in. People will then come along and assist Pakistan by way of trade. I think the relationship has to be with Pakistan realising, as it does, and on which our government is very clear, that it has to trade and it needs to provide the right climate for trade and investment. I think this should be the basis of our relationship.
Business Recorder : What are the existing ties between the two countries?
Alistair Burt: We have a very strong bond with Pakistan. We have bilateral trade in goods and services of about 1.9 billion pounds a year with Pakistan and our Prime Minister David Cameron, during his visit to the country this year, stated that we are improving this trade to 2.5 billion pounds. Trade means security, trade means jobs, trade means giving opportunities to people to make choices about their lives.
Business Recorder : Is there any possibility of signing defence agreement with Pakistan?
Alistair Burt: Well, to my understanding, our relationship in this sector is very strong and we have co-operation agreements already with Pakistan military in relation to counter terrorism. I am not aware of any new agreement in this regard, but one of the objectives of my visit to this country is to re-assure Pakistan of our commitment in respect to the terrorism; we acknowledge that this country has lost a lot of people, thousands of people have been killed by terrorists and many soldiers lost their lives in this war. The UK appreciates all that has been done by Pakistani people and its security forces in this war.
Business Recorder : What kind of assistance the United Kingdom is providing to Pakistan to help its social sector like health and education?
Alistair Burt: We recognise that the portion of (Pakistan) budget given to education is small, so as part of assistance, we are committed to supporting education development in Pakistan until 2015 that would include training 90,000 teachers and providing 6 million text books.
Business Recorder : What is the status of Readmission Agreement between UK and Pakistan in resolving the problems of Pakistani illegal immigrants?
Alistair Burt: Talks have already been held with Interior Minister Rehman Malik on the subject and we are working on an agreement which will serve the sovereign interests of Pakistan as well as of the UK.
Business Recorder : What message will you give to international community with respect to Pakistan?
Alistair Burt: The international community should recognise that Pakistan offers many opportunities; it is a growing consumer market. It is a country of young people who are hungry to make their way in the world, to have better education and to have good jobs. There are challenges but opportunities are always there. My second message is to the investors and potential traders coming here, the news I heard is, it (Pakistan) is a very good place to invest, the margin is good and it is the place where business community can feel easy.