Pakistan, UK ministers announce new steps aimed at boosting trade

ISLAMABAD: Ministers from the UK and Pakistan have announced new measures to boost trade between the two countries, following the launch of the UK-Pakistan Trade Dialogue.

As part of the dialogue, ministers announced the creation of a new UK-Pakistan Business Advisory Council bringing together senior business leaders and government officials to facilitate high value trade and investment. The council will provide strategic advice on policy reform, offer a confidential forum for engagement, and help promote commercial opportunities by addressing market access challenges and sharing best practices.

Monday’s (14 July) meeting in London was co-chaired by the UK Minister for Trade Policy and Economic Security, Douglas Alexander, and Pakistan’s Federal Minister of Commerce Jam Kamal Khan. Both ministers agreed to annual ministerial meetings to unlock growth opportunities, and support businesses and investors in the UK and Pakistan.

Douglas Alexander said: “Today’s dialogue marks the next step in our long-standing relationship with Pakistan, taking our trading partnership to the next level and unlocking new opportunities for businesses in both our countries.”

“By deepening cooperation in key sectors like healthcare and digital technology – areas central to the UK’s Industrial Strategy – we can drive growth, foster innovation, and create jobs.”

Jam Kamal said: “The UK remains one of Pakistan’s most important economic partners. This dialogue lays the foundation for a more structured and forward-looking trade relationship. By strengthening collaboration and aligning our priorities, we can expand bilateral trade, attract greater investment, and create sustainable economic opportunities that benefit both nations.”

The UK has also announced up to £200,000 to support Pakistan’s aspirations to attract investment from the UK. The funds will provide technical assistance for investor outreach, and support matchmaking between Pakistani investors and UK-based opportunities. This initiative reflects the UK’s commitment to supporting Pakistan’s ambitions to increase outbound investment and to strengthening the bilateral investment relationship.

The dialogue highlighted shared ambition to build on recent momentum, with bilateral trade increasing by 7.3 per cent during the final quarter of last year. Bilateral trade is currently valued at £4.7 billion. Today’s discussion focused on key sectors including information technology and healthcare, two priority areas under the UK’s Industrial Strategy.

The UK’s Industrial Strategy presents a significant opportunity for businesses and investors. The UK is committed to making it easier, faster, and more predictable for international firms to operate in its market. This includes reforms in skills development, innovation, regulation, and planning – creating a more dynamic and open business environment. Through the alignment of the UK’s Industrial Strategy and the UK – Pakistan Trade Dialogue, we are reaffirming our commitment to open and fair trade and to deepening economic ties with key partners like Pakistan.

Copyright Business Recorder, 2025