UK, Pakistan agree to set up new business advisory council at inaugural trade dialogue

ISLAMABAD: Pakistan and the United Kingdom (UK) decided to form a new business advisory council as officials from both countries met in London at the inaugural UK-Pakistan Trade Dialogue, the British high commission in Islamabad said on Monday.

The development came during the dialogue co-chaired by UK Minister for Trade Policy and Economic Security Douglas Alexander and Pakistan’s Commerce Minister Jam Kamal Khan, who is on an official visit to the UK from July 14 till July 20.

The UK maintains zero-tariff access of Pakistan’s exports post-Brexit, making it Pakistan’s largest European and third-largest individual export partner, according to the Pakistani foreign ministry.

The UK-Pakistan Business Advisory Council will bring together senior business leaders and government officials to provide strategic advice on policy reform, offer a confidential forum for engagement, and help promote commercial opportunities by addressing market access challenges and sharing best practices.

“Today’s Dialogue marks the next step in our long-standing relationship with Pakistan, taking our trading partnership to the next level and unlocking new opportunities for businesses in both our countries,” Alexander was quoted as saying by the British high commission.

“By deepening cooperation in key sectors like health care and digital technology – areas central to the UK’s Industrial Strategy – we can drive growth, foster innovation, and create jobs.”

The high commission did not share an exact date about the establishment of the new advisory council.

Bilateral trade between the two countries in goods and services reached £4.7 billion in 2024, an increase of 7.3 percent, or £320 million, compared to the previous year, according to the UK government data. Of this £4.7 billion, UK exports to Pakistan amounted to £2.2 billion, while its imports from Pakistan amounted to £2.5 billion.

Khan, whose visit aims to deepen bilateral commercial ties and strengthen institutional frameworks, said the dialogue laid the foundation for a more structured and forward-looking trade relationship between both sides.

“The UK remains one of Pakistan’s most important economic partners,” he was quoted as saying. “By strengthening collaboration and aligning our priorities, we can expand bilateral trade, attract greater investment, and create sustainable economic opportunities that benefit both nations.”

Britain also announced up to £200,000 to support Pakistan’s aspirations to attract investment from the UK.

“The funds will provide technical assistance for investor outreach, and support matchmaking between Pakistani investors and UK-based opportunities,” the British high commission said in its statement.

“This initiative reflects the UK’s commitment to supporting Pakistan’s ambitions to increase outbound investment and to strengthening the bilateral investment relationship.”

Khan’s visit comes at a time when Pakistan is striving to draw overseas investment amid a gradually healing macroeconomic environment after a prolonged downturn that forced Islamabad to seek external financing from friendly nations and multiple loan programs from the International Monetary Fund (IMF).

The British high commission said Monday’s discussions focused on key sectors, including information technology and health care, under the UK’s Industrial Strategy, which presents a “significant opportunity” for businesses and investors.

“The UK is committed to making it easier, faster, and more predictable for international firms to operate in its market. This includes reforms in skills development, innovation, regulation, and planning – creating a more dynamic and open business environment,” it said.

“Through the alignment of the UK’s Industrial Strategy and the UK–Pakistan Trade Dialogue, we are reaffirming our commitment to open and fair trade, and to deepening economic ties with key partners like Pakistan.”

ISLAMABAD: Charred vehicles and a mangled motorcycle lay outside Islamabad’s district court Tuesday, their metal frames still warm as investigators sealed off the area where a suicide bomber had killed at least 12 people.

It was a rare assault at the heart of Pakistan’s capital where blood stained a two-way street, and shattered glass glimmered among the debris.

“It was a very strong and terrifying explosion,” said Khalid Mandokhel, a 24-year-old lawyer.

“Many of the victims were bystanders,” he told AFP at the scene.

The blue police van hit in the blast stood crippled at the entrance, its metal pierced by shrapnel and tires shredded, as investigators documented every mark on the vehicle.

More than 25 people were wounded in the attack.

Rustam Malik, another lawyer, said he “heard a loud bang at the gate” as he entered the complex, where daily, hundreds of people arrive to sort out legal matters.

They did not expect to leave with their lives hanging by a thread. “There was thick smoke,” Malik told AFP.

Interior Minister Mohsin Naqvi told journalists outside the court that the attacker had lingered outside the building for several minutes before striking.

“He could not go inside (the complex); he blew himself up near the police vehicle,” Naqvi said.

’Complete chaos’

The complex, home to several courts, is usually one of the busiest areas in Islamabad during the day. Nearby offices of senior administration and police officials add to the dense crowds.

Outside the government-run hospital where most of the victims were taken, people were milling about as rescue workers wheeled people with head and leg injuries into the emergency room. Security guards, on alert, prevented the media from entering.

Back at the blast site, cordoned off at several points, investigators gathered evidence until late afternoon.

A heavy presence of police and paramilitary soldiers combed through the wreckage as a stray dog rummaged through the remains, sniffing at the scattered debris.

Malik recalled “complete chaos” — lawyers and visitors running in panic after the explosion thundered through the compound.

As investigators processed the scene, the lawyer waited patiently for police clearance so he could collect his vehicle which was damaged in the attack.

“I saw two dead bodies lying at the gate and several cars were on fire,” he said.

UK, Pakistan agree to set up new business advisory council at inaugural trade dialogue