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Pakistan is a good place for British businesses to invest in and has potential to be the primary target for all British brands that want to benefit from this relatively untapped market.
UK Minister of State for Trade and Investment Lord Green and UK Cabinet Minister Baroness Sayeeda Warsi visiting a new shopping centre in Karachi said UK government was fully committed to building on the bilateral trade relationship between our two countries.
UK advocates market access to European Union and strongly supports European Commissions proposal to extend GSP Plus eligibility to Pakistan, said Green.
Encouraging more British companies, including those in the retail sector, to consider Pakistan as an investment destination will be key to achieving this, he added.
British retail company Debenhams will open its first shop in April this year in Karachi.
Green said, This new store represents further progress towards our goal of increasing the 1.9 billion pounds worth of trade that already flows between our two countries every year.
Negotiations are ongoing and European parliaments draft report has welcomed extension of GSP Plus. There is further potential for developing bilateral trade as UK consumers become more aware of what Pakistan has to offer, he said.
He said UK exports in goods to Pakistan showed double-digit level of growth over last year and noted Pakistans exports to UK rose by 17 percent from January to October with particularly strong growth in textiles.
UK is top destination in Europe for Pakistans exports and also largest European investor in Pakistan of international businesses operating here, one in six is British.
He said one of most important areas where UK and Pakistan could work together to ensure future prosperity is education.
There are more students for O and A Levels in Pakistan-some 170,000 than anywhere outside of UK.
There are around 30,000 Pakistani students in UK. Prime Minister David Cameron was able to announce 650 million pounds for education in Pakistan during his visit last year which will help to get more than four million children into schools, help recruit and train 90,000 teachers and provide six million sets of text books.
Ms Warsi said, It is a British company that is opening up the first international department store in Pakistan. UK retail companies are up there with the best in the world, so I hope many more will look to invest in and create jobs in Pakistan.
We are already making great progress in our goal of increasing trade between our two countries, with double-digit rises in both directions in the last year, but we are ambitious and keen to do more, she added.
British Deputy High Commissioner and Director UKTI Francis Campbell said UKTI is delighted to work with Team A Ventures in helping Debenhams achieve this milestone.
The 27,000 sq foot store will be Pakistans first international departmental store. Debenhams will be joining other British brands in Pakistan like Next, Mothercare, Early Learning Centre, Accesorise and Monsoonto bring popular goods to a growing market.
Yasin Paracha from Team A Ventures Pakistan, the franchisee of Debenhams in Pakistan also attended the launch event.
Debenhams General Manager Adnan Hamid said Debenhams, with a portfolio of internationally renowned fashion designers, 65 franchises around the world, was here to change lifestyles.
In an enthusiastic market like Pakistan, it is going to get bigger and better, the perfect international offering for an extremely prospective local market.
Daily Times - Leading News Resource of Pakistan
UK Minister of State for Trade and Investment Lord Green and UK Cabinet Minister Baroness Sayeeda Warsi visiting a new shopping centre in Karachi said UK government was fully committed to building on the bilateral trade relationship between our two countries.
UK advocates market access to European Union and strongly supports European Commissions proposal to extend GSP Plus eligibility to Pakistan, said Green.
Encouraging more British companies, including those in the retail sector, to consider Pakistan as an investment destination will be key to achieving this, he added.
British retail company Debenhams will open its first shop in April this year in Karachi.
Green said, This new store represents further progress towards our goal of increasing the 1.9 billion pounds worth of trade that already flows between our two countries every year.
Negotiations are ongoing and European parliaments draft report has welcomed extension of GSP Plus. There is further potential for developing bilateral trade as UK consumers become more aware of what Pakistan has to offer, he said.
He said UK exports in goods to Pakistan showed double-digit level of growth over last year and noted Pakistans exports to UK rose by 17 percent from January to October with particularly strong growth in textiles.
UK is top destination in Europe for Pakistans exports and also largest European investor in Pakistan of international businesses operating here, one in six is British.
He said one of most important areas where UK and Pakistan could work together to ensure future prosperity is education.
There are more students for O and A Levels in Pakistan-some 170,000 than anywhere outside of UK.
There are around 30,000 Pakistani students in UK. Prime Minister David Cameron was able to announce 650 million pounds for education in Pakistan during his visit last year which will help to get more than four million children into schools, help recruit and train 90,000 teachers and provide six million sets of text books.
Ms Warsi said, It is a British company that is opening up the first international department store in Pakistan. UK retail companies are up there with the best in the world, so I hope many more will look to invest in and create jobs in Pakistan.
We are already making great progress in our goal of increasing trade between our two countries, with double-digit rises in both directions in the last year, but we are ambitious and keen to do more, she added.
British Deputy High Commissioner and Director UKTI Francis Campbell said UKTI is delighted to work with Team A Ventures in helping Debenhams achieve this milestone.
The 27,000 sq foot store will be Pakistans first international departmental store. Debenhams will be joining other British brands in Pakistan like Next, Mothercare, Early Learning Centre, Accesorise and Monsoonto bring popular goods to a growing market.
Yasin Paracha from Team A Ventures Pakistan, the franchisee of Debenhams in Pakistan also attended the launch event.
Debenhams General Manager Adnan Hamid said Debenhams, with a portfolio of internationally renowned fashion designers, 65 franchises around the world, was here to change lifestyles.
In an enthusiastic market like Pakistan, it is going to get bigger and better, the perfect international offering for an extremely prospective local market.
Daily Times - Leading News Resource of Pakistan
