RE - Director UK Trade and Investment Robert Gibson has expressed the optimism that the trade relations between Pakistan and the United Kingdom would grow further in coming days as Pakistan is on the priority list of the United Kingdom for having enormous potential and opportunities.
Robert Gibson was speaking at Lahore Chamber o Commerce and Industry on Wednesday. LCCI President Mian Muzaffar Ali, former LCCI President Mian Msbahur Rehman and Executive Committee members including Shahzad Azam Khan, Faisal Iqbal Sheikh, Mehmood Ghaznvi, Anwaar A Sheikh and Aasia Sail Khan also spoke on the occasion.
Both sides discussed matters relating to expansion of bilateral trade, investment and economic cooperation especially investment climate in Pakistan in the wake of global economic crisis.
The Director UK Trade and Investment said that UK was seriously working on further strengthening the business relations between the two countries. He said Pakistan has a huge potential for foreign investment with rich human resource.
He said that global recession could be tackled with collective approach and there is a need that both the UK and Pakistani businessmen should work hand-in-hand to fight it out once for all.
Speaking on the occasion, the LCCI President Mian Muzaffar Ali said that Pakistan was keen to have British investment that could provide transfer of technology and help it become a knowledge-based economy.
He said nurturing relations with the UK is a corner stone of Pakistan foreign policy as Pakistan views the UK as a key industrialised country with sound opportunities for trade and investment because it is an important member of the G-8 and the EU, and a partner in the Commonwealth. The presence of around one million Pakistanis in Britain gives added strength to the traditional relationship. Above all, the UK is Pakistans largest trading partner within the EU and the second largest foreign investor. We can understand that some of Pakistani areas are critically suffering from security risks but these risks are confined to those areas alone. The perception that the investors are shying away from Pakistan is no longer there. The concessions provided by a business friendly environment to them are so enormously attractive that investors are willing to take certain amount of risk. Therefore, UK investors should bring more and more investments into Pakistan. The LCCI President also stressed the need to further widening of bilateral economic bonds.