UK to increase export volume with Pakistan to £1b

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ISLAMABAD: The United Kingdom has decided to increase the volume of exports with Pakistan from 400 million pounds to 1 billion pounds, British Secretary of State for Foreign and Commonwealth Affairs Jeremy Hunt said on Wednesday.

He was addressing a joint press conference with Foreign Minister Shah Mehmood Qureshi after their meeting.

Hunt said he had a detailed conversation with Qureshi on the strategic partnership between the two countries.

Despite lower exports, trade deficit contracts 13.6%

Bilateral trade, international cooperation, a joint strategy to end regional tensions and poverty alleviation measures were discussed.

“The resumption of the British Airways flight between Islamabad and London is a good sign for both countries,” he added.

Qureshi said he discussed regional affairs and the Afghan peace process with the British secretary of state. He informed the Hunt about the government’s measures to deescalate tensions after the Pulwama attack.

The minister said he had also informed the British secretary of state about the steps taken to curb money laundering and corruption as well as measures taken in line with the Financial Action Task Force (FATF) guidelines.

“Pakistan and UK can enhance trade cooperation and there are excellent investment opportunities that both countries can benefit from,” he added.