The UK Trade Commissioner for Middle East, Afghanistan and Pakistan, Simon Penney Monday said that the UK-based companies are increasing their businesses in the growing Pakistani market as Unilever has invested $120 million to enhance its production capacity.
Speaking to a group of reporters at British Deputy High Commission here, Penney said that Unilever Pakistan had announced its decision of investment in 2018 to increase production in its manufacturing facilities and now the company has completed this project.
He said that many other UK companies are keen to enter Pakistani market. British Airways has restarted its operations from Islamabad while the airline is also looking for starting its services from Lahore and Karachi.
He pointed out that bilateral trade between the two countries is growing. The current bilateral trade has increased to 3.3 billion pound sterling. The trade volume is in favor of Pakistan as Pakistani exports to the UK have increased to 3.0 billion pound sterling while UK exports to Pakistan are 1.3 billion pounds. He was of the view that there is a huge potential to increase bilateral trade between the two countries.
He said some 135 UK-based companies are doing businesses in Pakistan while other companies are set to start their businesses in this growing economy.
The British Deputy High Commissioner in Karachi and Trade Director for Pakistan, Mike Nithavrianakis said the security situation in Pakistan has improved significantly. Due to better situation of security, the UK government has improved its travel advisory for Pakistan.
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