ISLAMABAD: Federal Minister for Commerce and Textile, Mohammad Pervaiz Malik is an on official visit the to UK from 16th to 18th April, 2018 to attend the Commonwealth Heads of Government Meeting and Commonwealth Forum. Commerce Minister will also hold a meeting with Minister for Trade Policy Greg Hands, and will also attend a meeting on Fashion and Industry insight. The commerce minister will also participate in Asia Leaders Round table conference (Can Asia Keep Growing) on 18th April, 2018. The minister will depart for Pakistan on 19th April 2018.
The Commonwealth is a voluntary association of 53 countries spanning Africa, Asia, the Americas, Europe and the Pacific. Pakistan is one of the founding members of the modern commonwealth formed on April 26, 1949. The Commonwealth is home to 2.4 billion people and includes both advanced economies and developing countries. Commonwealth has around 30 per cent of the world’s population and 20 per cent of the world’s landmass.
Every two years the leaders of Commonwealth nations gather for the Commonwealth Heads of Government Meeting (CHOGM). This intergovernmental summit is an opportunity for Heads to address shared challenges and set new priorities. Priority areas of work are agreed at Commonwealth Heads of Government Meetings.
The Pakistan Commonwealth bilateral trade amounted to $10.61 billion in 2016 with Pakistan exports of $4.31 billion and imports of $6.3 billion. Pakistan’s main exports to commonwealth are in textiles products, which constitute 61 per cent of total exports. The UK is the prime destination for Pakistan’s textile exports. Other significant exports are in rice, mineral products including cement, gypsum, and petroleum oil and of leather products.
Pakistan’s primary imports from Commonwealth nations are in agriculture products, including colza seeds from Canada, tea from Kenya, vegetables from India, Australia and Canada and palm oil from Malaysia. Agriculture imports constitute 34 per cent of the total imports from the Commonwealth. Other significant imports are in chemicals, coal, petroleum oils, raw cotton and iron and steel.
The main exports partner for Pakistan in the commonwealth is the United Kingdom, which accounts 34 per cent of Pakistan’s total exports, followed by Bangladesh, India, Kenya, and Australia. Pakistan’s main import partner is India, constituting 26.1 per cent of total imports followed by Malaysia, Canada, the UK and Singapore.
