ISLAMABAD: Appreciating the enhanced bilateral trade between Pakistan and the United Kingdom (UK), Advisor to the PM on Commerce & Investment Abdul Razak Dawood has called for ways to further enhance and diversify trade and investment opportunities between the two countries.
The advisor said this while holding a virtual meeting with Mike Nithavrianakis, UK’s Deputy High Commissioner in Karachi and Trade Director for Pakistan, on Thursday. The senior officers from the Ministry of Commerce were also present on the occasion.
During the meeting, matters pertaining to bilateral trade and investment came under discussion, said a statement issued by the Ministry of Commerce.
To further strengthen bilateral cooperation between Pakistan and the UK, the matter of initiating a formal institutional mechanism to discuss trade and investment matters also came under discussion, said the statement.
Enhanced cooperation and the projects pertaining to the education and health sectors were also discussed. Both sides reiterated the commitment of continuous engagement to further enhance economic cooperation, bilateral trade and investment, the statement said.
Post-Brexit UK has granted enhanced market access to Pakistan on the basis of the 2018 EU Monitoring Report. The same is to continue till December 2022 under the ‘Enhanced Framework’. The UK government has launched an eight-week public consultation on the UK’s future tariff schedule and policies regarding its Generalised Scheme of Preferences (GSP), in which Pakistan has also been invited to participate.
The formal UK-Pakistan Trade & Investment Dialogue would be institutionalised in the coming months, said the statement.
