UK delegation seeks alliance in diverse industries

Trade department official calls for exploring all untapped areas

LAHORE: Pakistan and the United Kingdom have a good potential to enhance cooperation in many fields and they should encourage frequent exchange of trade delegations in an attempt to explore all untapped areas, suggested Ben Ainsley of the UK Department for International Trade.

A four-member delegation of the Department for International Trade, led by South Asia Lead Ministerial Strategy Directorate Ben Ainsley, visited the Punjab Board of Investment and Trade (PBIT) to explore the potential for investment, trade and business opportunities in Punjab.

Economic Horizons Policy Adviser Andy Roby and Max Petrokofsky from the Trade Policy Wing, Department for International Trade were part of the delegation.

The delegates underlined the need for expanding and diversifying bilateral trade. They called for UK collaboration with Pakistan in many industries and sectors.

PBIT CEO Jahanzeb Burana, while briefing the delegation on diverse investment opportunities in Punjab, emphasised that the province was rapidly becoming an ultimate destination for foreign direct investment. In Punjab, he said, multiple Greenfield investment opportunities were available in the areas of education, agriculture, information technology, manufacturing, services, energy, tourism, industrial estates, special economic zones and health care.

Burana said the deep multi-faceted relations with the UK presented a huge potential for cooperation between the two countries in trade and investments.

“The UK and Pakistan are strategic partners and Punjab offers the most business-friendly climate for instituting joint ventures,” he remarked. He assured the delegation that being the premier investment promotion agency of the province, the PBIT would extend all available facilities to British investors and envisaged close cooperation with the UK Department for International Trade for promoting trade and investment, including exploring new opportunities.

He also talked about the soft launch of an entrepreneurship desk at the PBIT.

Published in The Express Tribune, August 30^th, 2017.

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