Call for joint efforts to boost Pak-UK trade

LAHORE: Pakistan and United Kingdom are steady trade and economic partners and have immense potential to grow their mutual trade to the new height.

While talking to a two-member delegation from United Kingdom led by Farhan Farani here Tuesday, the LCCI President Mian Tariq Misbah said that United Kingdom is a lucrative destination and can help Pakistan boost its exports to the required level.

LCCI Vice President Tahir Manzoor Chaudhry and Executive Committee Member Haji Asif Sehar also spoke on the occasion.

A number of issues including mutual trade, investment, Brexit scenario and GSP status to Pakistan came under discussion.

The LCCI President said that Pakistan and UK enjoy strong bilateral relations and share history and deep cultural linkages.

Pakistani businessmen should grow their relations with their British counterparts to avail the available opportunities.

He said that exchange of delegations and participation in each others exhibitions were useful tools to know more about each other.

Such interactions with the counterparts and other stakeholders allow embarking upon new areas of cooperation, he observed.

He said that UK was known for having strong socio-political atmosphere where the people and the government work hand in hand for the betterment of the country.

He said that United Kingdom was third largest export market for Pakistan. He said that LCCI is making all-out efforts for the cause of business community.

Mian Tariq Misbah said that UK should provide some trade facilitation to Pakistan. He emphasized the need for collective efforts to increase the existing trade volume between the two countries. He said, "We have to identify problems and find out solutions to the issues coming in the way of trade promotion.

He said that to enhance trade between the two countries there should be exchange of information so that both sides get updated knowledge about each other. Exchange of delegations should be linked up with events.

LCCI Vice President Tahir Manzoor Chaudhry said that textile industry was an important sector and generates over 60 percent export revenue of the total. Pakistan is enjoying GSP Plus status. UK is a very big market but we are dealing in limited products. He emphasized on skill development, he added.

Head of the delegation Farhan Farani called for greater efforts to promote trade and investment between Pakistan and United Kingdom. He said that the Lahore Chamber of Commerce and Industry had an important role to play in this regard.

Executive Committee Member Haji Asif Sehar underscored the importance of enhancing the trade ties and expressed optimism that the Lahore Chamber of Commerce & Industry would leave no stone unturned to promote trade and investment between the two countries.