Daily Times

There are vast trade and investment opportunities in Pakistan, especially in Karachi, which is an international economic centre, said British Deputy High Commissioner Mike Nithariankis.

He stated that the UK mission was further trying to promote economic cooperation between the two countries including a boost to trade and investment.

“My job is to bring more British people to see enormous trade and investment opportunities, as in Pakistan there is peace, security and better business environment,” he emphasised while speaking at a gathering of aspirants for the Civil Superior Services (CSS).

He said 150 popular British companies – like Unilever and GSK – were successfully operating in Pakistan and a majority of these were in Karachi. He stressed that there was big potential for foreign investment in various sectors of Pakistan, mainly agriculture, manufacturing and pharmaceuticals.

“These can boost Pakistan’s exports. But there is also a need for improving the supply chain, storage and processing facilities,” he said.

“There is a big demand for Pakistan’s fruits and vegetables as well,” he mentioned, adding that Pakistan needed to diversify its products and focus on new and non-traditional sectors, along with expansion and modernisation of the existing manufacturing facilities to compete and achieve a better share in the international market.

Shedding light on the support provided by the United Kingdom, the envoy said the UK helped Pakistan in diversifying export goods and in job creation it was a major trade partner of Pakistan.

“Besides fruits and vegetables, it is a big buyer of Pakistan’s textile products,” he highlighted.

Nithariankis underlined the need for further strengthening economic cooperation between the two countries.

Responding to a question, he said, after departure from the European Union, the United Kingdom would be in a better position to directly discuss and engage in trade and investment in Pakistan.

The envoy said Karachi had a diversified population and was the economic hub of Pakistan. “This city has great potential to grow,” he said, adding, “It has two seaports and is supported by another main international port – Gwadar.” He highlighted that Britain and Pakistan had strong economic relationship in many areas.