Pakistan and the UK have agreed to fast-track their Trade Dialogue Mechanism to strengthen economic cooperation, with a focus on expanding trade and fostering innovation-driven partnerships.
The agreement was reached during a meeting between Pakistan’s Minister for Planning, Development & Special Initiatives, Prof. Ahsan Iqbal, and the UK’s Minister of State for Trade Policy, Chris Bryant.
Minister Iqbal emphasised the strong political and cultural ties between the two countries, stating that it was now time to translate these relations into tangible economic growth.
“Our goal is to turn goodwill into growth,” he said, highlighting that bilateral trade currently stands at £5.5 billion, a figure he believes is just the beginning. He stressed the importance of swiftly operationalising the three working groups established under the Trade Dialogue Mechanism to unlock commercial opportunities.
Minister Bryant acknowledged the significance of the recently signed agreement, which calls for annual ministerial meetings and the swift operationalisation of working groups. He emphasised that technical discussions on areas such as SPS measures and tariffs will be crucial for advancing practical solutions.
During the meeting, Iqbal also provided an update on Pakistan’s economic recovery efforts, stating that inflation was falling, growth was recovering, and Pakistan was more open for business than ever.
He stressed the government’s vision to position Pakistan as a regional investment hub, highlighting the country’s strong potential in IT and technology sectors.
“We have a highly skilled, young tech talent pool, and deep tech collaboration between Pakistan and the UK can create a new bridge between our economies,” said Iqbal.
The two sides also discussed enhancing cultural cooperation in areas such as fashion, music, arts, and tourism, viewing cultural ties as an opportunity to bring people closer. Minister Iqbal concluded the meeting by extending a formal invitation to Minister Bryant to visit Pakistan, confident that he would find a nation ready for transformation and global partnership.
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