Pakistan commits to expanding trade, investment ties with EU: PM Shehbaz

Prime Minister Shehbaz Sharif on Tuesday met a high-level trade and business delegation of the European Union in Islamabad, reaffirming Pakistan’s commitment to strengthening trade and investment ties with its largest trading partner, the Prime Minister’s Office (PMO) said in a statement.

The delegation included the international partners of the European Investment Bank director Thourya Triki, Adidas vice president Manuel Pauser, Andritz vice president Karl Schloegelbauer; and IKEA regional director Dieter Metkke. The EU ambassador to Pakistan, Raimundas Karoblis, was also present.

Welcoming the delegation at the Prime Minister House, Prime Minister Shehbaz thanked them for participating in the EU-Pakistan Business Forum and said the event would help boost economic cooperation between the two sides.

The PMO added that members of the delegation shared their own investment experiences in Pakistan and said there are great prospects of further expanding B2B relations between the European Union and Pakistan in various sectors, including energy, communications and information technology.

“The European Union is Pakistan’s largest trading partner and the largest destination for our exports in terms of volume,” he said, adding that the government remained committed to expanding trade ties and attracting investments.

He further said that Pakistan would continue its efforts to strengthen trade and investment relations with the EU despite regional challenges, including recent volatility in global oil prices linked to tensions in the Middle East.

Prime Minister Shehbaz also referred to two recent telephone conversations with European Council President António Costa, saying that the discussions had focused on regional security and ways to further deepen relations between the EU and Pakistan.

According to the PMO, the EU representatives praised Pakistan’s role in facilitating the dialogue and praised the organization of the business forum. Members of the delegation also shared their investment experiences in Pakistan and highlighted the potential for expanding cooperation in sectors such as energy, communications and information technology.

Senior ministers including Deputy Prime Minister and Foreign Minister Ishaq Dar, Commerce Minister Jam Kamal Khan, Law Minister Azam Nazeer Tarar and Finance Minister Bilal Azhar Kayani also attended the meeting.

On the other hand, the prime minister had a telephone conversation with the Prime Minister of New Zealand, Christopher Luxon, during which both leaders discussed the evolution of the situation in the Middle East and bilateral relations, according to an official statement.

The call, described as cordial and friendly, focused on Pakistan’s diplomatic efforts aimed at reducing regional tensions and promoting peace.

Prime Minister Shehbaz briefed Prime Minister Luxon about Islamabad’s current engagements with international partners. According to the statement, the New Zealand Prime Minister “appreciated Pakistan’s constructive diplomatic initiatives, particularly its engagements with Washington and Tehran, and expressed his best wishes for the success of these mediation efforts.”

The Prime Minister, in turn, reaffirmed Pakistan’s unwavering commitment to promoting peace, dialogue and stability in the region and the world.

Both leaders agreed on strengthening bilateral relations between Pakistan and New Zealand and expressed satisfaction with what they described as the “friendly and cordial ties between both countries.” The role of the Pakistani community in New Zealand was also recognized during the debate.

Concluding the call, the Prime Minister invited Luxon to pay an official visit to Pakistan and the two leaders also agreed to remain in close contact in the coming days.