FTA with Pakistan UK’s priority: envoy

Deputy High Commissioner of the United Kingdom Belinda Lewis said on Saturday that political changes after Brexit poll would never impact on UK-Pakistan trade relations and signing of FTA (Free Trade Agreement) with Pakistan for enhancing trade was Britain’s priority.

In a meeting with Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Regional Chairman and Vice President Mian Rehman Aziz at the FPCCI Regional Office, she said, “We are still member of the European Union (EU) and there is space for negotiations while the UK has strong trade and investment links with Pakistan long precede the EU.”

While, the FPCCI regional chairman said renegotiation of tax especially for GSP Plus status was very important for the business community of Pakistan. “As the UK is the third largest importer of Pakistani goods, other than the United States and China. Pakistan’s exports are helped by the GSP Plus arrangement with the EU,” he noted.

He discussed various matters of concerns such as Pound Sterling’s Stability & Credit rating, trade under GSP Plus and cost of doing business etc.

British Business Centre Chief Executive Officer Malahat Awan said that they would soon sign MoU with the FPCCI for enhancing trade relation. She informed the meeting that opening of the British Business Centre in Lahore would significantly increase the support available to UK and Pakistani companies.

In addition to providing a base for visiting UK companies, the Centre would offer UK and Pakistani member companies to have an access to a growing number of services, including market research, business opportunity promotion, event management, networking opportunities and bespoke professional and sector specific services.

FPCCI Vice President Aasim Shah said the UK was amongst the largest exporters to Pakistan with over 100 British companies operating in Pakistan. Pakistani exports to the EU were dominated by textiles, clothing, and leather products. In the end, the crest was presented to Belinda Lewis Deputy High Commissioner by the FPCCI.