ISLAMABAD: The high-level EU-Pakistan Business Forum is opening in Islamabad today, Tuesday, as Pakistan and the European Union seek to explore new avenues for trade and investment.
The forum is being held at a time when Pakistan is attempting to deepen economic engagement with the EU, its largest export destination and second-largest trading partner after China, with trade driven largely by textile exports under preferential access arrangements.
The two-day event, hosted by the Delegation of the European Union to Pakistan in partnership with EU member states and the Pakistani government, brings together policymakers, CEOs, investors and international financial institutions from across the European Union and Pakistan.
“Economic and trade ties are a key feature of the Pakistan–EU multidimensional relationship,” Pakistan PM Shehbaz Sharif was quoted as saying in a statement shared by the EU.
“The Pakistan-EU Business Forum provides the ideal platform to move from ‘dialogue to deal-making’,” he said. “I invite European businesses to join us in Islamabad for this Forum to witness firsthand, the true potential of Pakistan’s market.”
There are more than 300 European companies operating in Pakistan, according to EU officials. Under the EU’s GSP+ scheme, Pakistan benefits from reduced or zero tariffs on a wide range of exports in return for commitments to human rights, labor standards and governance reforms, making it central to bilateral trade ties.
Over the course of two days, the EU-Pakistan Business Forum will provide both sides a platform to explore investment and trade opportunities across key sectors, including textiles and apparel, agriculture and agri-business, pharmaceuticals and health care equipment, and renewable energy and green logistics, according to EU.
It will provide a chance for the two sides to engage in high-level business-to-government and business-to-business exchanges, facilitate matchmaking with financial institutions, including in the context of the EU’s Global Gateway investment initiative.
Sharif said Pakistan attaches high importance to its relations with the European Union, and with a combined population of nearly 700 million across both regions, there is tremendous potential to scale up their quantum of trade and investment.
“I believe there exists significant potential to further expand European investment in Pakistan, particularly in sectors that offer mutually beneficial opportunities, including Agriculture and Food Processing, Minerals, Information Technology, Advanced Manufacturing and Infrastructure Development,” he said.
“Other sectors, including the blue economy and aviation sector also present untapped potential.”
