Pakistan committed to expanding trade and investment ties with EU: PM Shehbaz

Prime Minister Shehbaz Sharif met a high-level EU trade and business delegation in Islamabad on Tuesday and reaffirmed Pakistan’s commitment to strengthening trade and investment ties with its largest trading partner, the Prime Minister’s Office (PMO) said in a statement.

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, Prime Minister Shehbaz thanked them for their participation 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,” he 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.

Prime Minister Shehbaz also referred to two recent telephone conversations with European Council President António Costa and said discussions had focused on regional security and ways to further deepen EU-Pakistan relations.

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.

Senior ministers including Deputy Prime Minister and Foreign Minister Ishaq Dar, Commerce Minister Jam Kamal Khan, Law Minister Azam Nazeer Tarar and Finance Minister Bilal Azhar Kayani also attended the meeting.

Separately, the Prime Minister held a telephone conversation with New Zealand Prime Minister Christopher Luxon, where the two leaders discussed the development of the situation in the Middle East and bilateral relations, according to an official statement.

The call, described as cordial and friendly, focused on Pakistan’s diplomatic efforts aimed at reducing regional tensions and promoting peace.

Prime Minister Shehbaz briefed Prime Minister Luxon on Islamabad’s ongoing engagements with international partners. According to the statement, the Prime Minister of New Zealand “appreciated Pakistan’s constructive diplomatic initiatives, particularly its engagements with Washington and Tehran, and expressed best wishes for the success of these mediation efforts.”

The Prime Minister, in turn, reaffirmed Pakistan’s unwavering commitment to promoting peace, dialogue and stability in the region and the world.

Both leaders agreed to strengthen bilateral relations between Pakistan and New Zealand and expressed satisfaction with what was described as the “friendly and cordial ties between the two countries.” The role of the Pakistani community in New Zealand was also recognized during the discussion.

At the end of the call, the Prime Minister invited Luxon for an official visit to Pakistan and the two leaders also agreed to remain in close contact in the coming days.