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UK keen to invest in Pakistan

UK-Pakistan Chamber of Commerce and Industry (UKPCCI) on Tuesday said that the British entrepreneurs are interested to join hands with their Pakistani counterparts, especially in the alternative energy sector along with technology transfer.

It also advised that the UKPCCI should make efforts for promoting networking among businessmen of the two countries to enhance the existing bilateral trade to three billion pounds by 2015.

UKPCCI President Riaz Khan said this during his visit to the Islamabad Chamber of Commerce and Industry (ICCI) and said, “We consider Pakistan a potential country for investment in alternative energy, pharmaceuticals, textiles and other sectors and can help the two countries improve bilateral trade through private sectors’ participation.”

Khan, who was heading the delegation, stressed that new areas of cooperation between the two countries should be explored. The delegation represented energy, pharmaceutical, real estate, beauty salon and spa, textiles, solicitors, health and education sectors.

Education is another potential area for improving collaboration between the two countries, Khan said, adding that the UKPCCI can assist in arranging teachers training at the primary school level, as well as in vocational training, particularly in the field of nursing. However, he expressed reservations on the discriminatory approach in Pakistan for dual nationality holders.

Shaban Khalid, president of the ICCI, said that relations with the United Kingdom is a cornerstone of Pakistan’s foreign and trade policies, especially considering there is a large Pakistani origin community in the UK, including some successful and prominent personalities. However, there is a need to take concrete steps to enhance diversified partnerships between the two countries.

He said Pakistan’s economy offers immense potential for investment in various sectors. The British entrepreneurs working in Pakistan should also further increase their operations by expanding existing projects and exploring new avenues for investment, as they have good opportunities to initiate joint ventures with the Pakistani counterparts.

He stressed that one of the problems being faced by the Pakistani business community is the “image of Pakistan”, and the Diaspora could play an active role in promoting the true and soft image of Pakistan against what is being projected in media.He encouraged the delegates to share their experiences with their peers and help change misperceptions about Pakistan, while returning to the UK.

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