Pakistan currently can get more foreign exchange by focusing on value addition: Mir Jam Kamal Khan
ISLAMABAD, Sep 23 (SABAH): Oliver Christian, the UK Trade Commissioner, met with Pakistan’s Federal Minister for Commerce, Mir Jam Kamal Khan, to explore avenues for enhancing bilateral trade.
The meeting highlighted the need for sectoral collaboration and a business-to-business matchmaking approach to target growth areas in both countries. Mir Jam Kamal Khan emphasized Pakistan’s immense potential in the food sector, particularly through value addition. “Pakistan currently can get more foreign exchange by focusing on value addition,” he noted. The Minister underscored the government’s commitment to expanding trade, particularly under the leadership of Prime Minister Shehbaz Sharif. He praised Prime Minister’s dedication to achieving an ambitious export growth plan, aiming to increase exports from US$30 billion to US$60 billion.
The minister also highlighted Pakistan’s success in organizing the FoodAg Expo in Karachi, where more than 800 foreign delegates participated. “This was the first event of its kind, with such a large international presence, and it opened doors to significant business opportunities,” he added. Mir Jam Kamal Khan cited Pakistan’s growing exports in other sectors, such as IT, mining, horticulture, and dairy, and discussed the potential for future exports, including olive products. “Pakistan is on its way to becoming a significant olive exporter, with vast cultivation underway,” he informed.
The UK Trade Commissioner acknowledged Pakistan’s vast potential and extended full support for increasing the trade volume between the two nations. Both sides emphasized the importance of the UK-Pakistan Trade Dialogue, a platform to be established soon to promote trade and investment. As the UK diversifies its import sources post-Brexit, the Minister highlighted Pakistan’s potential to become a key supplier of food products to the UK, given its compliance with international standards. This discussion marked a significant step in strengthening trade ties, with both parties expressing optimism for the future of UK-Pakistan trade relations.