British envoy perceives Pakistan as an emerging frontier market
British government would have greater capacity to not only support British businesses
KARACHI (Dunya News) – British Deputy High Commissioner in Karachi, Mike Nithavrianakis sees Pakistan as an emerging frontier market deserving greater attention and that UK Department for International Trade is increasing its resources to Pakistan.
"There is a recognition that we should be doing more and there is a greater opportunity here," he said while speaking in a meeting with office bearers of Karachi Chamber of Commerce and Industry here at the chamber, said KCCI press release on Friday.
He said with more DIT resources, British government would have greater capacity to not only support British businesses keen to explore Pakistani market but to assist Pakistani companies looking forward to get engaged with Britain companies.
British envoy said 5,000 British companies are operating in United Arab Emirates and very few of which are doing business in Pakistan. If they are already in the region and so close to Pakistan then they should be exploring Pakistan s market more seriously, he emphasized.
"We are encouraging these British companies to explore Pakistani market but bringing new British companies is a challenge because of Pakistan s perception which needs to be changed." He was of the opinion that Pakistan with a huge population 250 million and large middle-class offers opportunities in infrastructure, energy, healthcare, education, professional services and defense and security.
He said "Karachi is very important city from business perspective as it is the commercial and financial services hub where so many key companies and entities are headquartered including Karachi Chamber of Commerce and Industries, Pakistan Stock Exchange, State Bank of Pakistan, Pakistan Business Council and Overseas Chamber of Commerce and Industry".
"We do have some resources in Islamabad and Lahore as well but majority of the team is based here at British Deputy High Commission in Karachi because of its significance", he added.
Terming UK-Pakistan relationship as unique, he said "Both countries had been enjoying very warm and conducive partnership, and we are ambitious to take this partnership to the new level as we believe that UK s departure from European Union which is going to happen on January 31,2020 gives us the opportunity to do that".
"With 1.5 million British people of Pakistani origin, who make 2.5 percent of UK s population, Pakistani diaspora is involved in businesses,civil society, politics, journalism, sports, culture and media, he said".
Referring to UK Pakistan bilateral trade and investment, British Envoy said it was a positive and good story but it could be much better in both the directions. The export business from Pakistan was obviously of more interest to Pakistani and British governments. But British Government would be keen to see expansion of two-way trade and investment.
Chairman Businessmen Group in KCCI and former president of Karachi Chamber Siraj Kassam Teli highlighted role of KCCI and his group BMG for the welfare of the business community along with promotion of trade and industry.
He said "KCCI represents Karachi which is the industrial, financial and commercial hub and the largest city with a huge population of 22 million people, spread over 3500 square kilometers and around 16,000 industries were also operational here in all seven industrial zones which are also affiliated with KCCI".
