The Ministry of Commerce (MoC) is looking for new high-growth sectors of exports to give a new boost to Pak-Britain trade, said Minister for Commerce Engr Khurram Dastgir Khan while meeting with Syed Ibn-e-Abbas, Pakistan’s High-Commissioner-designate to England, who will assume his responsibilities in the first week of September.

The minister said that MoC is promoting the export of high value-added textile products to England while there is a great scope of import of sophisticated services and consultancies from England. Currently, Pakistan’s trade with England stands at 2 billion pounds out of which Pakistan’s exports are 1.4 billion pounds, suggesting that the balance of trade is clearly in Pakistan’s favour. The minister expressed the government’s resolve to enhance bilateral trade up to 3 billion pounds in the coming years.  England has a huge Pakistani diaspora, which is settled there since decades.

They are working in every sector and provide huge revenue through the remittances they send back to Pakistan. However, the minister expressed his concern that the Pakistani companies are not well entrenched in the vast financial markets of Britain. He directed the High Commissioner to engage the Pakistani community settled in Britain and guide them about the latent business and trade opportunities that Britain offers. Abbas said that enhancing Pakistan’s trade with Britain will be his top priority and for that end he will keep a constant liaison with the Pakistani community in Britain.