The United Kingdom has decided to further enhance trade relations with Pakistan by setting up a new Business Advisory Council and offering a £200,000 technical grant to promote investment in Pakistan.
According to reports, both countries agreed on the formation of the new council during the inaugural UK-Pakistan Trade Dialogue event. British and Pakistani ministers announced several new initiatives aimed at boosting bilateral trade at the launch of the dialogue.
The Business Advisory Council will include prominent business leaders and government officials from both countries. It will provide strategic advice on policy reforms and create an internal platform for mutual consultation to promote trade opportunities. This will focus on removing market access barriers and adopting best international practices.
The meeting in London was co-chaired by UK Minister for Trade Policy and Economic Security, Douglas Alexander, and Pakistan’s Federal Minister for Commerce, Jam Kamal Khan.
Both ministers agreed to hold annual ministerial meetings to open new avenues for businesses and investors. Douglas Alexander described the trade dialogue as “a key step in strengthening the longstanding relationship between the UK and Pakistan,” promising it will create fresh business opportunities for both countries.
He emphasized that health and digital technology are central to the UK’s industrial strategy. “By expanding cooperation in these key sectors, we can drive growth, foster innovation, and create new jobs,” he added.
Jam Kamal stated, “The UK is a vital economic partner for Pakistan. This trade dialogue lays the foundation for a more structured and forward-looking trade relationship. By aligning our priorities, we can boost bilateral trade, increase investment, and create sustainable economic opportunities for both countries.”
The UK also announced up to £200,000 in technical assistance to support investment promotion efforts in Pakistan. This funding will help guide investors, facilitate connections between British and Pakistani investors, and support Pakistan’s ambitions for outbound investment.
This initiative reflects the UK’s commitment to strengthening bilateral investment ties with Pakistan.
The trade dialogue emphasized a shared commitment to further expand the growing bilateral trade witnessed in recent months. According to the joint statement, bilateral trade increased by 7.3% in the last quarter of the previous year, reaching a total trade volume of £4.7 billion.
The dialogue focused especially on sectors like information technology and healthcare, which align with the UK’s industrial strategy priorities.
The UK’s industrial strategy aims to provide significant opportunities for businesses and investors by making it easier, faster, and more predictable for international companies to operate in the UK market. This includes reforms in skills development, innovation, regulation, and planning to foster a dynamic and open business environment.
Through the industrial strategy and the UK-Pakistan Trade Dialogue, the UK reaffirms its commitment to open and fair trade and looks forward to deepening economic relations with key partners like Pakistan.