A business delegation from the EU calls on Prime Minister Shehbaz Sharif in Islamabad. PHOTO: APP
ISLAMABAD:
Prime Minister Shehbaz Sharif on Tuesday reaffirmed Pakistan’s commitment to strengthening trade and investment ties with the European Union.
The prime minister expressed the decision during a meeting with a high-level EU trade and business delegation in the federal capital, according to a statement issued by the PM’s Office (PMO).
The delegation included International Partners at European Investment Bank Director Thourya Triki, Adidas Vice President Manuel Pauser, Andritz Vice President Karl Schloegelbauer; and IKEA regional director Dieter Metkke. The EU Ambassador to Pakistan Raimundas Karoblis was also present.
Welcoming the delegation at the Prime Minister’s House, the Prime Minister thanked them for participating in the EU-Pakistan Business Forum and said the event would help boost economic cooperation between the two sides.
The PMO added that the delegation members shared their own experiences of investing in Pakistan and said there are strong prospects for further expanding EU-Pakistan B2B relations in various sectors including energy, communication and information technology.
“The European Union is Pakistan’s largest trading partner and the main destination for our exports in terms of volume,” the prime minister said, adding that the government remains committed to expanding commercial ties and attracting investment.
He further said that Pakistan will continue efforts to strengthen trade and investment ties with the EU despite regional challenges, including recent volatility in global oil prices linked to tensions in the Middle East.
According to the PMO, the EU representatives praised Pakistan’s role in promoting the dialogue and praised the hosting of the business forum. Delegation members also shared their investment experiences in Pakistan and highlighted the potential to expand cooperation in sectors including energy, communications and information technology.
Separately, the premier directed the relevant authorities to ensure that all necessary facilities are made available to both domestic and foreign investors to boost the country’s exports and said regulatory compliance processes are simplified and made more cost-effective to increase investment in the country.
In another engagement, the Prime Minister held a telephone conversation with New Zealand Prime Minister Christopher Luxon during which the two leaders discussed the developments in the situation in the Middle East and bilateral relations, according to an official statement.
Shehbaz briefed Prime Minister Luxon on Islamabad’s ongoing engagement with international partners. According to the statement, the New Zealand prime minister appreciated Pakistan’s constructive diplomatic initiatives, particularly its engagements with Washington and Tehran.
