ISLAMABAD: A Swedish business delegation is set to visit Karachi soon to explore investment opportunities in Pakistan’s garment sector, according to the country’s commerce ministry on Monday.
The announcement followed a meeting between Swedish Ambassador to Pakistan, Alexandra Berg von Linde, and Commerce Minister Jam Kamal Khan in Islamabad, where both officials discussed bilateral trade, investment prospects, and areas for mutual collaboration.
Amid a $7 billion International Monetary Fund (IMF) program supporting Pakistan’s economy, the country has been actively promoting trade and foreign investment to achieve sustainable growth. During the meeting, the ambassador recognized Pakistan’s strong reputation in textile exports and acknowledged that Swedish buyers regard Pakistani products among the finest globally.
The commerce ministry noted that small and medium-sized Swedish enterprises are particularly interested in exploring opportunities within Pakistan’s garment sector. “A Swedish business delegation is expected to visit Karachi shortly to meet local manufacturers and examine export potential,” the statement added.
Pakistan and Sweden share a long-standing diplomatic relationship, dating back to 1949 when Sweden became the first Scandinavian nation to establish formal ties with Pakistan. Over the decades, the two countries have fostered cooperation across trade, economy, education, culture, and people-to-people exchanges.
Bilateral trade between Pakistan and Sweden reached $288.8 million in fiscal year 2023-24, with Pakistan exporting $149.4 million worth of goods and importing $129.4 million, according to the Foreign Office.
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During the discussions, Minister Khan highlighted Pakistan’s potential in sectors such as information technology (IT), technical education, mining, surgical goods, and sports equipment, encouraging Swedish firms to consider investing in these areas.
For the first time, the Pakistani government plans to gradually reduce import tariffs to 15–20 percent over the next five years, aiming to facilitate exports while allowing the import of high-quality products not available domestically for value addition and re-export.
Khan also emphasized that more than 40 Swedish companies, including global brands like H&M and IKEA, are already sourcing from Pakistan. He invited additional Swedish investment in renewable energy, sustainable manufacturing, IT, and infrastructure, while encouraging participation in upcoming trade events such as the Food and Agriculture Exhibition in Pakistan in November 2025.
The ministry added that both sides identified mining, renewable energy, green technologies, vocational training, and skill development as key areas for future collaboration. “The minister also highlighted Pakistan’s large pool of skilled youth, particularly in healthcare, where Pakistani professionals could help address shortages in Europe, including nursing staff,” the statement concluded.