- Thursday, April 25, 2024
By: Radhakrishna N S
BRITISH high commissioner to Pakistan, Christian Turner, has set out his ambition to double UK-Pakistan trade during a two-day programme in the North of England.
Speaking at a business event in Manchester on Friday (6), he called on business leaders to build on their deep UK-Pakistan ties and the changing perceptions of Pakistan.
Turner made his comments in the presence of more than 300 political and business leaders. The event was part of a two-day programme in the North of England, including Manchester, Leeds and Bradford, by the high commissioner.
He also set out how positive UK government policies had the potential to help unleash Pakistan’s growth by tapping potential and expanding existing partnerships.
Turner noted: “I want the business community to be part of unleashing the full, enormous potential of the UK-Pakistan relationship; my ambition is to double the trade between our two countries.
“The community ties in the northwest of England exemplify our unique partnership, and we want to challenge perceptions of Pakistan – it’s a country modernising fast and changing for the better”.
During the visit, the high commissioner flagged that UK Export Finance (UKEF), the UK’s expiry credit agency, had a £1 billion facility of which only £3 million was currently being utilised.
This means, through UKEF, the British High Commission in Pakistan is increasing the credit limit for Pakistan to £1bn, ensuring that viable UK business ideas have access to the right credit and insurance facilities.
So far, only £3m has been utilised. CDC, the UK government’s development finance institution, is doubling investment to $500m over the next two years, including in clean energy and mainly wind power.
He also planned to double the size of the British High Commission trade team and further support economic development and technical expertise in Pakistan.
