Advisor to the Prime Minister on Commerce & Investment, Abdul Razak Dawood, along with senior officers from the Ministry of Commerce, held a virtual meeting with UK’s Deputy High Commissioner in Karachi and Trade Director for Pakistan, Mike Nithavrianakis, on July 29, 2021 (today).
During the meeting, matters pertaining to bilateral trade and investment came under discussion. The Advisor to the Prime Minister on Commerce & Investment appreciated the enhanced bilateral trade between Pakistan and the UK and spoke about ways to further enhance and diversify trade and investment opportunities between the two countries.
Post-Brexit UK has granted enhanced market access to Pakistan based on the 2018 EU Monitoring Report. The same is to continue till December 2022 under the ‘Enhanced Framework.’
The Government of the UK has launched an eight-week public consultation on the UK’s future tariff schedule and policies regarding its Generalized Scheme of Preferences (GSP), in which Pakistan has also been invited to participate.
To further strengthen bilateral cooperation between Pakistan and the UK, the matter of initiating a formal institutional mechanism to discuss trade and investment matters also came under discussion.
The formal UK-Pakistan Trade and Investment Dialogue would be institutionalized in the coming months.
Enhanced cooperation and the projects pertaining to the education and health sector were also discussed. Both sides reiterated the commitment of continuous engagement to further enhance economic cooperation, bilateral trade, and investment.