Commerce Minister Explores Trade Opportunities in the UK

ISLAMABAD: Federal Minister for Commerce Jam Kamal recently engaged with the London Chamber of Commerce and Industry (LCCI) to explore avenues for bolstering trade relations between Pakistan and the United Kingdom.

Collaboration in IT and Emerging Technologies

The minister emphasized Pakistan’s burgeoning IT sector, which saw exports exceeding USD 3.2 billion in fiscal year 2023-24. He encouraged LCCI members to explore potential partnerships within Pakistan’s thriving tech landscape, which is globally recognized as a hub for freelance IT professionals. He further highlighted the significance of joint ventures in innovative domains such as artificial intelligence and blockchain technology. Pakistan’s advancements in fintech, including blockchain-based remittance solutions and growing interest in digital assets and decentralized finance, were also showcased.

Green Investment and Renewable Energy Transition

Kamal also highlighted Pakistan’s attractiveness as a destination for green investments, inviting UK firms to collaborate on the country’s transition towards renewable energy sources. He proposed the establishment of regular business forums and trade missions led by the LCCI, focusing on sectors with untapped potential.

Pakistan Britain Business Council (PBBC)

During a meeting with the Pakistan Britain Business Council (PBBC), the minister acknowledged the council’s crucial role in connecting public and private sector stakeholders from both nations. The PBBC commended the Pakistani government’s efforts to reinstate PIA’s operations to the UK, emphasizing the positive impact on trade in perishable goods.

The minister urged the PBBC to broaden its support to include non-traditional Pakistani exports and small and medium-sized enterprises (SMEs), particularly in IT services, women-led businesses, and cultural industries. He underscored the importance of strengthening ties between academia and industry, engaging the diaspora, and leveraging the Council’s platform to promote tourism and gather trade policy feedback.

UK–Pakistan Chamber of Commerce and Industry (UKPCCI)

In discussions with the UK–Pakistan Chamber of Commerce and Industry (UKPCCI), the minister advocated for improved matchmaking between UK importers and reliable Pakistani suppliers. He encouraged the chamber to facilitate diaspora-led investments in Pakistan through joint ventures, franchising, and startup incubation. Enhanced support for initiatives focused on tourism and culture was also proposed.

The necessity for collaborative accelerators, digital services B2B platforms, and technology-focused business missions was also highlighted to enhance Pakistan’s presence in the UK digital economy. Chamber members expressed interest in introducing solar-powered household heating appliances to Pakistan and establishing supply chains for Pakistani fruits and vegetables destined for major UK retailers.

The minister instructed the Trade Wing to engage with interested businesses and pursue commercial opportunities. The day concluded with a dinner attended by Pakistani academics, business professionals, IT sector companies, and software houses based in London. The minister reiterated the private sector’s importance and the need for increased collaboration with chambers, businesses, and SMEs in Pakistan.

Birmingham Chamber of Commerce Engagement

During his visit to the UK, the minister also met with the Birmingham Chamber of Commerce, underscoring Pakistan’s dedication to diversifying its export offerings to align with the evolving needs of the United Kingdom’s industries and consumers.

Noting the increasing trade volumes with the Midlands region, the minister highlighted Pakistan’s growing strengths in non-traditional sectors such as processed foods, fisheries, pharmaceuticals, leather goods, IT services, furniture, ceramics, and sports goods.

He invited Birmingham-based businesses to explore high-quality Pakistani exports, including Basmati rice, mangoes, and Halal-certified processed food products. Pakistan was presented as a reliable partner for the UK’s advanced manufacturing and automotive supply chains, citing its cost-effective production base, expertise in light engineering and metal fabrication, and proven ability to supply components to global automotive brands.