A European Union business delegation visits Prime Minister Shehbaz Sharif in Islamabad. PHOTO: APPLICATION
ISLAMABAD:
Prime Minister Shehbaz Sharif on Tuesday reaffirmed Pakistan’s commitment to strengthening trade and investment ties with the EU.
The Prime Minister expressed his resolve during a meeting with a high-level EU trade and commerce delegation in the federal capital, according to a statement issued by the Prime Minister’s Office (PMO).
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 House, the Prime Minister thanked them for their participation 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,” the Prime Minister 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.
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.
Meanwhile, the Prime Minister directed relevant authorities to ensure provision of all necessary facilities to domestic and foreign investors to boost the country’s exports and said regulatory compliance processes would be simplified and made more cost-effective to boost investments in the country.
In another engagement, the Prime Minister held 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.
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.”
