UK, LCCI commit to strengthening trade

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ISLAMABAD: The British High Commission (BHC) and the Lahore Chamber of Commerce and Industry (LCCI) have committed to strengthening trade collaborations.

The British High Commission’s Acting High Commissioner Richard Crowder and Deputy Trade Director Matt Lister met with LCCI President Malik Tahir Javaid and Secretary General Shahid Khalil on Wednesday to discuss strengthening trade between the UK and Pakistan.

Both sides welcomed the recent increase in bilateral trade, which in 2016 stood at £2.7 billion, and agreed that this figure should rise further in the future.  In particular, they agreed on the scope for growth in sectors such as finance, legal and business services and IT, and on the importance of reforms to make Pakistan an easier and more attractive destination for businesses, including in the tax environment.

Deputy High Commissioner Richard Crowder said, “Pakistan is South Asia’s second largest economy with a growing middle class and close ties to the UK.  And the UK is Pakistan’s largest export market in Europe.  As the UK leaves the EU, we want to deepen our economic relationship with Pakistan, with more trade and investment flowing in both directions.”