UK, Pakistan agree to set up new business advisory council

ISLAMABAD (Web Desk) - Pakistan and the United Kingdom (UK) decided to form a new business advisory council as officials from both countries met in London at the inaugural UK-Pakistan Trade Dialogue, the British high commission in Islamabad said on Monday.

The development came during the dialogue co-chaired by UK Minister for Trade Policy and Economic Security Douglas Alexander and Pakistan’s Commerce Minister Jam Kamal Khan, who is on an official visit to the UK from July 14 till July 20.

The UK maintains zero-tariff access of Pakistan’s exports post-Brexit, making it Pakistan’s largest European and third-largest individual export partner, according to the Pakistani foreign ministry.

The UK-Pakistan Business Advisory Council will bring together senior business leaders and government officials to provide strategic advice on policy reform, offer a confidential forum for engagement, and help promote commercial opportunities by addressing market access challenges and sharing best practices.

“Today’s Dialogue marks the next step in our long-standing relationship with Pakistan, taking our trading partnership to the next level and unlocking new opportunities for businesses in both our countries,” Alexander was quoted as saying by the British high commission.

“By deepening cooperation in key sectors like health care and digital technology – areas central to the UK’s Industrial Strategy – we can drive growth, foster innovation, and create jobs.”

The high commission did not share an exact date about the establishment of the new advisory council.

Bilateral trade between the two countries in goods and services reached £4.7 billion in 2024, an increase of 7.3 percent, or £320 million, compared to the previous year, according to the UK government data. Of this £4.7 billion, UK exports to Pakistan amounted to £2.2 billion, while its imports from Pakistan amounted to £2.5 billion.