Commerce Minister Jam Kamal Khan embarks on key UK trade visit

Celina Ali

Islamabad: Federal Minister for Commerce, Jam Kamal Khan, has commenced a pivotal official visit to the United Kingdom, aiming to significantly strengthen trade and investment ties between Pakistan and the UK. The high-level engagement, which includes Secretary Commerce Mr. Jawad Paul, is set to deepen bilateral commercial relations and explore new avenues for economic cooperation.

A central moment of the visit is the anticipated signing of the Terms of Reference (ToRs) for the Pakistan-UK Trade Dialogue. This formalization will mark a crucial step towards institutionalizing bilateral trade cooperation, injecting greater standardization, transparency, and predictability into the economic relationship. The dialogue is expected to prioritize reducing non-tariff barriers, a key focus for enhancing trade volume beyond the current £4.7 billion (as of Q4 2024).

During his stay, Minister Khan will engage with various stakeholders to foster stronger partnerships. He is scheduled to meet with members of the All-Party Parliamentary Group (APPG), where he will advocate for enhanced political support to boost trade and investment flows. Furthermore, he will hold engagements with major Chambers of Commerce in London and Birmingham, promoting the active role of private sector stakeholders and exploring opportunities in emerging sectors.

A significant part of the visit involves meetings with leading UK-based multi-million-dollar companies across key sectors such as food processing, information technology (IT), engineering, and fintech. These discussions aim to showcase Pakistan’s economic potential and attract targeted investments into high-growth industries. Discussions with the UK Pakistan Business Council, Pakistan Britain Business Council, and UK Pakistan Chamber of Commerce & Industry will focus on strengthening institutional trade linkages and leveraging diaspora-led initiatives.

Pakistan’s exports to the UK primarily consist of textile products, including house linens, knit and non-knit apparel. The visit aims to diversify Pakistan’s export base and improve access for Pakistani products to international markets. The UK is already Pakistan’s largest European trading partner and a top source of foreign direct investment, with over 200 British companies operating in Pakistan.

This visit signifies a renewed thrust in Pakistan’s economic diplomacy, with the goal of expanding its commercial footprint in global markets like the United Kingdom and fostering mutual prosperity.