Pakistan’s exports to UK stood at US$ 1.7 billion : VP FPCCI, July 24, 2020

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Pakistan’s exports to UK stood at US$ 1.7 billion : VP FPCCI, July 24, 2020

ISLAMABAD-Vice President of the Federation of Pakistan Chamber of Commerce and Industry (FPCCI), Sheikh Sultan Rehman said that Pakistan’s exports to United Kingdom (UK) stood at US$ 1.7 billion and Pakistan is mainly exporting textiles cotton fabrics, knitwear, readymade garments, bed wear and rice to UK.

He said this while speaking in a webinar on “Impact of BREXIT on Trade and Economy of Pakistan” organized by FPCCI Head Office Karachi, Regional Office Lahore and Capital Office Islamabad via Zoom Video Conference, said a statement on Friday.

Sheikh Sultan Rehman said that UK plays a key role in economic and social development of Pakistan and the balance of trade between Pakistan and UK is in favor of Pakistan.

The Webinar was attended by Kamal Shahryar, Adviser on GSP Plus Trade Development Authority of Pakistan, Ms. Aaisha Makhdum and Baber Khan Joint Secretary and Deputy Secretary Ministry of Commerce, Asim Yousuf Vice President Pak-UK Chamber of Commerce and Industry, Dr. Zulfiqar Hyder Senior Economist, Syed Ali Raza Media Deputy Director State Bank of Pakistan, Sheikh Muhammad Tariq, Chairman Pak UK Business Council of FPCCI, Mr. Zakaria Usman Former President FPCCI, Ms Qaisra Sheikh Coordinator Women Enterpreneurs and Executive Committee and General Body Members of FPCCI.

While welcoming the participants, Sheikh Sultan Rehman said that currently the trade between Pakistan and UK is going on under EU GSP Plus scheme which will end for UK from January 01, 2021.

He also urged for signing Bilateral Investment Treaty between UK and Pakistan.

Joint Secretary Ministry of Commerce Ms. Aaisha Makhdum informed about their negotiations regarding post BREXIT arrangements with Trade Department of UK and stated that the demand of UK about adoption of  conventions are same which Pakistan is already ratified in EU GSP plus.

Vice President Pakistan UK Chamber of Commerce and Industry  Asim Yousuf added that there are huge opportunities for Pakistan’s export in agriculture, textile and food items to UK.