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Businesses informed about opportunities in Pakistan’s growing economy
ISLAMABAD: The third annual UK-Pakistan Trade and Investment Conference was held in London, highlighting to the UK businesses the opportunities in Pakistan's growing economy and need for strengthening cooperation among the key business leaders and investors of both the countries.
The event was organized by UK Trade and Investment (UKTI) in collaboration with Pakistan High Commission London, said a press statement issued by the Board of Investment (BoI) here Tuesday adding the focus of the conference this year was on financial and professional services.
Foreign and Commonwealth Office Minster for Pakistan, Tobias Ellwood MP represented the British Government in the conference whereas Dr. Miftah Ismail, BoI Chairman led the delegates and business representatives from Pakistan.
More than fifty CEOs and representatives of the British as well as Pakistani companies attended the Conference.
The Conference followed November's UK-Pakistan Energy Conference which looked at how Pakistan could address its energy challenges, sharing UK expertise and experience in the energy sector.
"We firmly believe we can play a part in building Pakistan's economy and opening doors for UK business," said Tobias Ellwood while addressing the conference.
He expressed the hope that efforts to strengthen bilateral trade relationship would continue to bring both the countries closer to achieve the challenging trade target.
"I encourage all UK companies considering exporting to Pakistan to contact UKTI and find out about the exciting opportunities on offer," he said.
Speaking on the occasion, Dr. Miftah Ismail said that Pakistan was an investment destination of choice because of its large middle class and trained workforce, positive economic outlook with stable indicators, huge resource base, growing financial markets and very attractive investment policies.
He said Pakistan offers tremendous opportunities of foreign investment in a wide variety of sectors, particularly in power sector, oil & gas exploration, and food & agriculture.
Particularly the financial sector of Pakistan shows good prospects with increase in Islamic banking practices and very strong capital markets, he added.
Dr. Miftah said that twenty six banks operating in Pakistan have foreign shareholding while 22 banks are listed on the stock exchanges with a market capitalization of PKR 1.5 trillion.
"Due to economic reforms agenda of the government, the economy has gained stability and the economic indicators are on upward trajectory. Over 100 Multinational companies are successfully doing business in Pakistan and we invite more businesses to invest in the profitable market of Pakistan," he added.
Pakistan High Commissioner Syed Ibne Abbas also attended the Conference.
Later speaking to the media, he stated that this was a 3rd such conference this year which shows the commitment of the UK and Pakistan to strengthening trade and economic ties.
John Tucknott, UK Deputy High Commissioner to Pakistan while speaking on the occasion said that UK was the world's leading global financial services centre.
Financial services contributed to 12% of UK GDP in 2013, he said adding Pakistan's financial and professional services sector has great potential with opportunities in Islamic finance, insurance and reinsurance, retail and commercial banking, and capital investment.
ISLAMABAD: The third annual UK-Pakistan Trade and Investment Conference was held in London, highlighting to the UK businesses the opportunities in Pakistan's growing economy and need for strengthening cooperation among the key business leaders and investors of both the countries.
The event was organized by UK Trade and Investment (UKTI) in collaboration with Pakistan High Commission London, said a press statement issued by the Board of Investment (BoI) here Tuesday adding the focus of the conference this year was on financial and professional services.
Foreign and Commonwealth Office Minster for Pakistan, Tobias Ellwood MP represented the British Government in the conference whereas Dr. Miftah Ismail, BoI Chairman led the delegates and business representatives from Pakistan.
More than fifty CEOs and representatives of the British as well as Pakistani companies attended the Conference.
The Conference followed November's UK-Pakistan Energy Conference which looked at how Pakistan could address its energy challenges, sharing UK expertise and experience in the energy sector.
"We firmly believe we can play a part in building Pakistan's economy and opening doors for UK business," said Tobias Ellwood while addressing the conference.
He expressed the hope that efforts to strengthen bilateral trade relationship would continue to bring both the countries closer to achieve the challenging trade target.
"I encourage all UK companies considering exporting to Pakistan to contact UKTI and find out about the exciting opportunities on offer," he said.
Speaking on the occasion, Dr. Miftah Ismail said that Pakistan was an investment destination of choice because of its large middle class and trained workforce, positive economic outlook with stable indicators, huge resource base, growing financial markets and very attractive investment policies.
He said Pakistan offers tremendous opportunities of foreign investment in a wide variety of sectors, particularly in power sector, oil & gas exploration, and food & agriculture.
Particularly the financial sector of Pakistan shows good prospects with increase in Islamic banking practices and very strong capital markets, he added.
Dr. Miftah said that twenty six banks operating in Pakistan have foreign shareholding while 22 banks are listed on the stock exchanges with a market capitalization of PKR 1.5 trillion.
"Due to economic reforms agenda of the government, the economy has gained stability and the economic indicators are on upward trajectory. Over 100 Multinational companies are successfully doing business in Pakistan and we invite more businesses to invest in the profitable market of Pakistan," he added.
Pakistan High Commissioner Syed Ibne Abbas also attended the Conference.
Later speaking to the media, he stated that this was a 3rd such conference this year which shows the commitment of the UK and Pakistan to strengthening trade and economic ties.
John Tucknott, UK Deputy High Commissioner to Pakistan while speaking on the occasion said that UK was the world's leading global financial services centre.
Financial services contributed to 12% of UK GDP in 2013, he said adding Pakistan's financial and professional services sector has great potential with opportunities in Islamic finance, insurance and reinsurance, retail and commercial banking, and capital investment.
