LONDON: A conference to identify opportunities for doing business in Pakistan is being jointly organized here on February 10 by the UK Trade and Investment and Pakistan High Commission. The event will take place at the Lancaster House where Pakistan’s Minister for Investment Saleem Mandiwala and British Minister for Trade and Investment Lord Green will be the key note speakers.
High Commissioner for Pakistan to the UK Wajid Shamsul Hasan and his British counterpart in Islamabad Adam Thomson will also address the conference. The event will highlight business opportunities in Pakistan for the UK companies. Over 100 UK companies are already operating successfully in Pakistan and the bilateral trade between the UK and Pakistan is worth over 1 billion pounds annually.
Ahead of the conference, figures released by the Commercial Section of the High Commission show exports from Pakistan to the United Kingdom have increased by 36% accounting to a value of 75.52 million pounds in November 2010 as compared to November 2009.
Thus the UK remains among top five export destinations of Pakistan with balance of trade in its favour. The significant export growth was seen in fruits, vegetables, cereals, pharmaceutical products, articles of base metal, carpets, cement, musical instruments, of apparels and clothing accessories, etc.
The total trade in November 2010 was recorded at 107.17 million pounds with an increase of approximately 22% as compared to total trade of 87.4 million pounds. In November 2009. Pakistan’s imports from the United Kingdom amounted to 31.64 million pounds in November, 2010 as compared to £32.49 in November 2009 showing a decrease of 3%. Pakistan High Commission spokesperson said that the event aims to identify opportunities for business in Pakistan besides hearing views from the market of both government and business leaders.
“It will also help in creating understanding of the procurement process and aid funded business and infrastructure opportunities in Pakistan as well as support available to the UK companies seeking to do business in Pakistan,” the spokesperson added. The event is significant in the context of Pakistan’s privatization program. Other prominent speakers who will speak include Asian Development Bank’s Director General for Central and West Asia, Juan Miranda ,Chief Executive, Hubco Power Pakistan, Vince Harris and Chief Executive HSBC in Pakistan, Lloyd Maddock. A large number of British companies will also be participating in the event. -APP