ISLAMABAD: Pakistan would continue to benefit from the UK’s tradepreferences scheme at par with the EU GSP Plus facility after the Brexit.

This was stated by Pakistan High Commissioner in the United Kingdom (UK)Moazzam Ahmad Khan Monday while delivering a key-note address at a webinaron “Post-Brexit UK’s GSP scheme and potential for Pak-UK trade”, jointlyorganised by the Pakistan High Commission, Trade Development Authority ofPakistan (TDAP), and Ministry of Commerce. A large number of businessmenfrom the two countries attended the webinar.

The high commissioner highlighted the significance of UK’s market forPakistan and said that the duty-free access on more than 90pc of thecountry’s exports was a good omen for future trade and investmentrelations between the two countries.

To make effective utilisation of the available concessions and increasingits market share post Brexit, Moazzam underlined the need for acomprehensive strategy and effective public-private cooperation.

The high commissioner apprised the participants of the webinar about theefforts undertaken to address regulatory and non-tariff barriers onPakistani products and also shared an outreach plan to create awarenessabout the trade and investment potential.

He said that it was encouraging to see remarkable growth in Pakistan’sexports to the UK and increased remittances during the current fiscal year.

In order to sustain the current momentum, he urged local businesses todiversify export products, establish long term business contacts with thebuyers, develop compliance mechanisms, and acquire certifications.

He said that given the potential of UK’s market, products likepharmaceutical, healthcare and PPE, surgical instruments, IT enabledservices, processed food, and agricultural products possess immensepotential and need to be exploited.

Further, TDAP Adviser Kamal Shahryar spoke about the issues related tocompliance with international conventions and rules of origin whileproposals for the expansion of UK-Pakistan trade and economic ties in thepost Brexit period were also discussed.