Khurram Stresses For JTC To Boost Trade With UK

Fahad Shabbir (@FahadShabbir) Published January 05, 2017 | 09:30 PM

(UrduPoint / Pakistan Point News - 5th Jan, 2017) Khurram Dastgir Khan on Thursday stressed the need for formation of Joint Trade Committee(JTC) to boost the trade with United Kingdom. He said this in a meeting with a high level delegation from UK, led by Parliamentary Under secretary of State for the Foreign and Commonwealth, Rt.Hon.

Alok Sharma . Alok Sharma said that relationship between Pakistan and UK is both deep and wide and that UK supported Pakistan in getting GSP plus facility,said in statement issued by Ministry of Commerce here.

He further discussed various proposals for boosting bilateral trade between the two countries and investment of British firms in China Pakistan Economic Corridor (CPEC) Projects and facilitation of British Companies working in Pakistan.

Minister for Commerce said that Pakistan will provide full support to the British Companies who are interested in investment in different CPEC projects and that all their concerns regarding the openness, transparency and their access to the bidding process will be addressed.

Regarding GSP plus minister appreciated the support of UK in GSP plus and also communicated the concerns of the Pakistani exporters post Brexit to the delegation and also proposed that UK should also provide GSP plus like facility to Pakistan.

Alok Sharma said that most likely UK will continue to be part of EU till March, 2019 and after that UK and Pakistan can make such arrangements to boost bilateral trade. Currently the bilateral trade between Pakistan and UK is 1550.85 million Euros with Exports of 1006.94 million Euros and imports of 543.91 million Euros in 2016.

While in 2013 the exports were 745.42 million Euros and imports of 379.73 million Euros. As a result of GSP plus status Pakistani exports to EU increased from 3478.75 million Euros in 2013 to 4767.39 million Euros in 2016.

The minister further said that in order to boost bilateral trade Pakistan and UK must have business to Business (B2B) conferences and also form a Joint Trade Committee (JTC) for discussing various bilateral trade arrangements. Khurram Dastgir Khan appreciated the UK assistance in education and said that it has provided depth to Pak-UK relationship.