UK to give preferential status to Pakistan post Brexit, says MP Rehman Chishti

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BIRMINGHAM: United Kingdom Prime Minister Theresa May’s trade envoy MP Rehman Chishti said Britain wants to boost its trade relations with Pakistan.

During the conservative party’s annual conference here in Birmingham, the MP from Gillingham while speaking exclusively to Geo News said that the UK has overtaken China to become Pakistan’s second largest export market in the world.

Rehman, who is also the vice chair of conservative party, spoke about his recent four-day trip to Pakistan as PM Theresa May’s trade envoy.

Rehman told Geo News that he held talks with PM Imran Khan’s advisor on Business and Industry Razak Dawood, CM Sindh Syed Murad Ali Shah, Chairman PPP Bilawal Bhutto, MD Shell and Chairman Port Qasim Authority.

“People often talk about the UK has historic ties with Pakistan, yes they are historic and very deep but we are more hopeful about further prosperity in our future relationships. The United Kingdom is the third largest investor in Pakistan after China and the Netherlands and accounts for 8% of foreign direct investment to Pakistan,” he said.

He said that the UK has overtaken China and now is Pakistan’s second largest export market after the US and also the largest market in the Europe.

“The annual bilateral trade between the United Kingdom and Pakistan has gone up to £2.9 billion just in the last year it has seen a 10% increase in it and annually now Pakistan is exporting £1.8 billion of goods and services to the UK,” he added.

“More than 120 British firms are operating and investing in Pakistan including Reckitt Benckiser, Mott MacDonald, UBL, Standard Chartered & GlaxoSmithKline. So the stats are very promising and we want to go from strength to strength at every level,” the British lawmaker said.

Rehamn told Geo news that the UK is looking forward to work with the newly elected civilian government in Pakistan to ensure stronger and long lasting trade ties.

“We have reiterated that whichever party is in the government in Pakistan, we are ready to work with them to strengthen our relations. We had a commitment that we want to see a democratic Pakistan so it’s very good to see that a civilian elected democratic government took charge from another civilian elected government. We will enhance the relationship at every level,” he said.

Chishti said that Pakistan will benefit hugely once the UK leaves European Union.

“We have already held talks with the authorities in Pakistan and made a commitment with them on GSP plus trade status will be protected and Pakistan will be given the same preferential status post Brexit,” he said.

“The legislation in the British parliament on preferential trade status which is similar to GSP plus to trade with Pakistan has been approved. So we have already started to deliver on the promises which we had."