Pak businessmen should tap UK services sector

Our Staff reporter SIALKOT - Deputy High Commissioner and Director UK Trade and Investment in Pakistan Francis Campbell has said that the United Kingdom and Pakistan are enjoying highly cordial relations since long and with the passage of time these relations would further be cemented. Addressing the members of Sialkot Chamber of Commerce and Industry (SCCI) on Tuesday here, he said that business communities of both the countries could play a significant role in enhancing the volume of two-way trade between the United Kingdom and Pakistan. He disclosed that British Prime Minister during his visit to Pakistan had fixed trade target of 2.5 billion Pounds and to achieve the target, working together is need of the hour, adding that collective efforts were direly needed for giving big boost to bilateral trade between the two countries. There was a great scope for enhancing trade in Services Sector and business community of Pakistan should concentrate and identify the new venues in this area, he said. The Deputy High Commissioner further informed the house that at present as many as 100 British companies are running their businesses for many years in Pakistan with the growth potential of 15 to 20 percent annually and none of these companies wanted to leave Pakistan. The United Kingdom is the second biggest partner of Pakistan in Foreign Direct Investment (FDI) after the US, he revealed. In his address of welcome, President SCCI Ghulam Mustafa Chaudhry said that Pakistan is an ideal country for FDI and relations between Pakistan and the UK are based on mutual trust. Bilateral trade was approximately $1.7 billion in 2010 and Pakistans share in UK imports is only 0.20 percent which needs to be enhanced with the cooperation of British government, he said. Ghulam Mustafa said that this visit will result in promoting a better understanding and strengthening mutual economic relations between communities of both the friendly countries.

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