Fostering better relations: UK diplomat underscores need for more trade
Tucknott stresses on joint ventures with Pakistan.
Speaking at a meeting during his visit, Tucknott assured full cooperation and support of the British government. PHOTO: MOHAMMAD SAQIB/EXPRESS
KARACHI:
British Deputy High Commissioner John Anthony Tucknott has said that many companies are willing to do business in Pakistan, adding that most want to undertake joint ventures despite the security situation in the country.
Speaking at a meeting during his visit to the Karachi Chamber of Commerce and Industry on Wednesday, Tucknott underscored the need to deal with security challenges and assured full cooperation and support of the British government.
Tucknott said the UK was striving hard and looking for ways and means of achieving the target of £3 billion bilateral trade by 2015, which was not an easy task keeping in view the slow pace of growth. “In order to achieve this challenging target, we must make sure that bilateral trade between the two countries grows 33% every year,” he added.
He informed that a UK-based company will be undertaking a project relating to setting up a desalination plant in the next few months which will be capable of providing 100 million gallons of potable water per day.
He said that another project for power generation through solid waste will also be initiated in Karachi which will not only help in fulfilling the energy requirements but will also lead to useful disposal of a large quantity of garbage. These projects will provide employment to 4,000 workers during the construction phase.
Responding to a query, he said that UK Trade and Investment (UKTI) in Pakistan helps companies in Britain increase their competitiveness through overseas trade in Pakistan.
Former KCCI president Siraj Kassam Teli said Pakistan and the UK have been enjoying goods relations as a number of UK-based companies are successfully running their businesses in Pakistan for many decades. In the fiscal year (FY) 2013, export volume of Pakistan to UK was $1.37 billion as opposed to $1.30 billion in FY12. Pakistan’s import from the UK was recorded at $0.82 billion in FY13 compared to $0.69 billion in FY12.
Published in The Express Tribune, May 22nd, 2014.
British Deputy High Commissioner John Anthony Tucknott has said that many companies are willing to do business in Pakistan, adding that most want to undertake joint ventures despite the security situation in the country.
Speaking at a meeting during his visit to the Karachi Chamber of Commerce and Industry on Wednesday, Tucknott underscored the need to deal with security challenges and assured full cooperation and support of the British government.
Tucknott said the UK was striving hard and looking for ways and means of achieving the target of £3 billion bilateral trade by 2015, which was not an easy task keeping in view the slow pace of growth. “In order to achieve this challenging target, we must make sure that bilateral trade between the two countries grows 33% every year,” he added.
He informed that a UK-based company will be undertaking a project relating to setting up a desalination plant in the next few months which will be capable of providing 100 million gallons of potable water per day.
He said that another project for power generation through solid waste will also be initiated in Karachi which will not only help in fulfilling the energy requirements but will also lead to useful disposal of a large quantity of garbage. These projects will provide employment to 4,000 workers during the construction phase.
Responding to a query, he said that UK Trade and Investment (UKTI) in Pakistan helps companies in Britain increase their competitiveness through overseas trade in Pakistan.
Former KCCI president Siraj Kassam Teli said Pakistan and the UK have been enjoying goods relations as a number of UK-based companies are successfully running their businesses in Pakistan for many decades. In the fiscal year (FY) 2013, export volume of Pakistan to UK was $1.37 billion as opposed to $1.30 billion in FY12. Pakistan’s import from the UK was recorded at $0.82 billion in FY13 compared to $0.69 billion in FY12.
Published in The Express Tribune, May 22nd, 2014.