Islamabad: Pakistan and the United Kingdom have pledged to explore new avenues of business and trade in different sectors, including IT, fintech, manufacturing industries, and production. This understanding was reached during a meeting between Finance Minister Muhammad Aurangzeb and UK's Minister of State for Trade Anas Sarwar in London today.
According to Radio Pakistan, both sides emphasized the importance of expanding cooperation in these areas to strengthen bilateral economic and commercial relations. They expressed their resolve to achieve tangible results in the upcoming Pakistan-UK Trade Dialogue Mechanism scheduled for December this year.
Discussions were held on the current bilateral trade volume between Pakistan and the United Kingdom. While expressing satisfaction over the current trade volume of 2.5 billion dollars annually, the two Ministers acknowledged that there is significant potential to enhance mutual trade in both goods and services.
Speaking on the occasion, Muhammad Aurangzeb stated that Pakistan's economy has stabilized and is on a fast-track trajectory towards growth. He noted that the government has undertaken macroeconomic reforms which have yielded positive dividends, alongside reforms aimed at curtailing losses and improving economic efficiency.
The Finance Minister highlighted that the government is determined to carry forward the privatization process to enhance private-sector participation and promote competition for improved service delivery.