ISLAMABAD: The first high-level EU-Pakistan Business Forum (EU-PKBF), designed to strengthen economic and business ties and unlock investment and trade will be held in May, the EU press office said on Wednesday, adding that the platform would also mark the official launch of the EU-Pakistan Business Network.

Pakistan has become the largest beneficiary of the EU’s GSP+ trade scheme in recent years, with its businesses increasing their exports to the EU market by 108 percent since the launch of the trade scheme in 2014. In October 2023, the EU unanimously voted to extend GSP+ status until 2027 for developing countries, including Pakistan.

“The Forum will also mark the official launch of the EU-Pakistan Business Network, a dynamic initiative aimed at bringing together all EU businesses active in Pakistan allowing to channel their collective voice,” the EU said, saying the EU-PKBF would be held from May 14-15.

The forum will include business-to-government sessions with high-level government officials and offer business-to-business opportunities. 

“Finally, in view of Pakistan benefiting from the EU’s Global Gateway offer: the EU’s largest investment program outside of the EU that aims to leverage 300 billion EUR of investment until 2027, the Forum will facilitate Business-2-Financial Institutions matchmaking and unveil new projects and investment opportunities.”

The business forum will see participation from high-level policymakers such as Prime Minister Shehbaz Sharif and the ministers of finance and commerce as well as EU and Pakistani business leaders and investors, who will get a “common space to exchange on opportunities and challenges of doing business in Pakistan, including in the sectors of textiles and apparel, agriculture and agri-business, pharmaceuticals and health care equipment, and renewable energy/connectivity.”