FO says no immediate economic impact of Brexit on Pakistan


Pakistan’s Foreign Office on Monday said that Britain’s exit from the European Union (EU), commonly referred to as Brexit, may not have any immediate economic impact on Pakistan’s economy.
“Pakistan’s relations with Britain are rooted in history and are complemented by strong diaspora linkages,” said Sartaj Aziz, adviser to the prime minister on foreign affairs.
He said that Pakistan has excellent economic and trade relations with the EU and multi-dimensional cooperation in different fields under a medium term strategic framework, this cooperation will continue, adding that Pakistani exporters should improve their competitive advantage to compensate for the recent fall in the value of the Pound Sterling.
The PM’s adviser was chairing a high-level inter-ministerial meeting held in the wake of Britain’s decision to leave the EU.
The meeting also discussed ways and means of ensuring that concessions available to Pakistan under GSP-Plus would continue either under the new arrangements worked out between the UK and EU or through bilateral arrangements with the United Kingdom.