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Pakistan’s Exports to UK Touch US$1 Billion Historic Mark in 6 Months, HC Tells Moot

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ISLAMABAD– High Commissioner Moazzam Ahmad Khan has noted with appreciation that Pakistan’s exports to the United Kingdom (UK) have increased by 22% touching the historic mark of one billion dollars in six-month period despite the Covid-19 pandemic and lockdowns.

He was delivering his inaugural speech at Pakistan’s First International Virtual Textile Expo 2021, a press release issued by Pakistan High Commission in London on Wednesday said.

The event, held on February 1, was organized by Trade Development Authority of Pakistan (TDAP) in collaboration with the Economic and Trade Wing London.

The purpose was to create awareness about the potential of Pakistan textile sector, demand in the UK market and connect buyers and sellers through this virtual platform.
Virtual Expo is a one stop sourcing event for home textiles, readymade garments and apparels, High-end Fashion Garments, Fabrics and Personal Protective Equipment (PPE) amid Covid-19 challenge.

Around 100 leading businessmen from Pakistan and the UK attended the Webinar.
Congratulating the organizers of the event, the High Commissioner said that the textile sector of country constituted around 60% share in Pakistan’s total exports and was also one of the very few countries of the world which housed the entire value chain of textile products.

He said Pakistan’s exports to the UK market enjoy duty free access which resulted in exponential growth in the exports of textile products which reflected an upward trajectory in Pakistan-UK trade relations.

He urged the UK businessmen to take advantage of Pakistan’s friendly investment policies and liberal trade and investment regime.

During the event UK’s Trade and Investment Minister Shafiq A. Shahzad made a brief presentation on the Tariffs and Trade of Textile sector between the two countries and highlighted the potential for enhanced trade between Pakistan and the UK.
Other speakers deliberated on the capacity of Pakistani manufacturers and compliance related factors.

Saeed Khilji, Chairman Textile Manufacturing Association Leicester and
Ms Faryal Sadiq, Vice President Sales & Marketing, Interlope highlighted emerging demand of Pakistan’s wide range of textile and apparel products in the UK market, and underlined the need for compliance of standards to increase its market share.

In the end, buyers and sellers exchanged their company profiles for B2B meetings and future engagements.

SOURCE:APP