KARACHI, Sept 20: Leader of 12-member UK trade mission Michael Brosch on Monday said that British business community is keen to invest in Pakistan where investment policies and business environments have improved during the last two years.
He said there is strong desire from Anglo-Pakistani business community to do business and invest in Pakistan as there exists a lot many opportunities compared to UK where the economy was strong but give little return.
Addressing a press conference at the residence of the British Deputy High Commissioner Hamish St Clair Daniel, OBE, he said there had been a lot of British investment in China but now the investors are looking for other avenues which include Pakistan.
Michael Brosch, who is director, International Trade, Nottinghamshire Chamber of Commerce and Industry said that last year in November he visited Pakistan along with a minister and in nine months period this is his second visit. He said that there was growing interaction between the two countries and added that in two weeks time another UK trade delegation will be coming to Pakistan.
He said that his chamber mostly represents small and medium enterprises and have membership from all the communities settled in UK. With the removal of MFA, he said UK investors see a lot many opportunities particularly when EU market will also open up for quota free era.
Mr Brosch said that Anglo-Pakistan community is keen to grab investment opportunities in Pakistan which has large scope for development and progress in the coming years. He said it was fascinating that the youth was more keen in investing in their homeland.
He said lately there had been huge UK investment in China but now there was a growing feeling for exploring investment opportunities in Pakistan which has stared showing stability and consistency in economic and investment policies.
Both the countries have a two-way trade of around one billion pound sterling and yet there was a lot of scope to enhance it. He said there were around 800,000 UK Nationals of Pakistani origin and out of these around 80,000 are presently living in Pakistan.
He said in next three to four months three trade delegations will be coming to Pakistan and another two trade mission, one of IT, would also visit Pakistan in the near future.
He said that Anglo-Pakistani business community had a sizeable amount of funds, which if invested in Pakistan could create job opportunities and also bring a lot of prosperity.
Speaking on the occasion British Deputy High Commission Hamish St Clair Daniel, OBE said the British travel advisory does not inhibit UK citizen from travelling to Pakistan but it cautions them to be careful and not to move unnecessarily.
Referring to terrorism and law and order situation in Pakistan, he said it was more a food for the media than anything else and there was not such an alarming situation which could be a cause of concern for investors. Above all, he said, terrorism has now assumed world wide phenomenon.
He said Pakistan and UK are the largest trading partners and UK feels that though both the countries were doing well but still want to do better. The Deputy High Commissioner said that presently UK was giving development assistance to Pakistan and around 200,000 pound sterling was being given in health and education.