Pakistan commits to expanding trade, investment ties with EU: PM Shehbaz

Prime Minister Shehbaz Sharif on Tuesday met a high-level European Union trade and commerce delegation in Islamabad, reaffirming Pakistan’s commitment to strengthening trade and investment ties with its largest trading partner, the Prime Minister’s Office (PMO) said in a statement.

The delegation included Thourya Triki, director of international partners of the European Investment Bank, Manuel Pauser, vice-president of Adidas, Karl Schloegelbauer, vice-president of Andritz; and Dieter Metkke, regional director of IKEA. The EU Ambassador to Pakistan, Raimundas Karoblis, was also present.

Welcoming the delegation at the Prime Minister’s House, Prime Minister Shehbaz thanked them for participating in the EU-Pakistan Business Forum and said the event would help strengthen economic cooperation between the two sides.

The PMO added that members of the delegation shared their own experiences of investing in Pakistan and said that there are strong prospects for expanding B2B relations between the European Union and Pakistan in various sectors, including energy, communications and information technology.

“The European Union is Pakistan’s largest trading partner and the largest destination for our exports in terms of volume,” he said, adding that the government remained committed to expanding trade ties and attracting investments.

He further said that Pakistan would continue its efforts to strengthen trade and investment ties with the EU despite regional challenges, including recent volatility in global oil prices linked to tensions in the Middle East.

Prime Minister Shehbaz also discussed two recent telephone conversations with European Council President António Costa, saying the discussions focused on regional security and ways to further deepen relations between the EU and Pakistan.

According to the PMO, EU representatives praised Pakistan’s role in facilitating the dialogue and welcomed the hosting of the business forum. The delegation members also shared their investment experiences in Pakistan and highlighted the potential for expanding cooperation in sectors such as energy, communications and information technology.

Senior ministers including Deputy Prime Minister and Foreign Minister Ishaq Dar, Commerce Minister Jam Kamal Khan, Law Minister Azam Nazeer Tarar and Finance Minister Bilal Azhar Kayani also attended the meeting.

Separately, the Prime Minister had a telephone conversation with New Zealand Prime Minister Christopher Luxon, during which the two leaders discussed developments in the Middle East and bilateral relations, according to an official statement.

The call, described as cordial and friendly, focused on Pakistan’s diplomatic efforts to reduce regional tensions and promote peace.

Prime Minister Shehbaz briefed Prime Minister Luxon on Islamabad’s ongoing engagements with international partners. According to the statement, the New Zealand Prime Minister “appreciated Pakistan’s constructive diplomatic initiatives, particularly its engagements with Washington and Tehran, and expressed his best wishes for the success of these mediation efforts.”

The Prime Minister, in turn, reaffirmed Pakistan’s unwavering commitment to promoting peace, dialogue and stability in the region and the world.

The two leaders agreed to strengthen bilateral relations between Pakistan and New Zealand and expressed satisfaction over what was described as the “friendly and cordial ties between the two countries”. The role of the Pakistani community in New Zealand was also recognized during the discussion.

Following the call, the Prime Minister invited Luxon for an official visit to Pakistan, and the two leaders also agreed to stay in close contact in the coming days.