Daily Times

BRUSSELS: Commerce Minister Engineer Khurram Dastgir Khan said that with the improvement in security situation investors have started to come back to Pakistan and country’s liberal policies for investment offered one of the most attractive investment regimes in the region.

He said this while chairing a conference of Pakistani trade officers deputed to countries of European Union. The two-day conference was organised by the Embassy of Pakistan in Brussels to discuss and review challenges, opportunities and strategies regarding trade and investment with European Union particularly in the context of GSP +.

In his key note address to the participants of the conference Engineer Khurram Dastgir Khan expressed the resolve to meet head on challenges faced by Pakistan in European markets vigorously and to device strategies to promote Pakistani products. He called upon trade officers to take advantage of opportunities offered by China Pakistan Economic Corridor (CPEC) and growth in Pakistan’s national economy made possible by strengthening of democratic institutions and improvement of security situation in Pakistan. The minister advised trade officers to explore opportunities of diversifying exports of goods and services in their respective areas of jurisdiction and share successful experiences with each other.

The opening session of the conference was Co-chaired by Pakistan’s Ambassador to Belgium, European Union and Luxembourg Naghmana A Hashmi and Pakistan’s Permanent Representative to World Trade Organisation in Geneva Ambassador Dr Tauqeer Shah. Trade officers discussed Pakistan’s trade with European Union and made detailed presentations on their respective countries.

Pakistan’s trade with European Union has risen substantively after the grant of GSP+ status to Pakistan. According to the figures provided by Eurostat, the total volume of trade for 2015 was 10,499 million euros as compared to 9,603 million euros in 2014 and 8,377 million euros in 2013. In 2015, exports from Pakistan constituted 6,071 million euros and imports from EU stood at 4,428 million euros. In 2016, for the period January to August, Pakistan’s exports to EU were 4,207 million euros as compared to 4,088 million euros in the corresponding period in, 2015, showing an increase by three percent.