Islamabad: The European Union, in collaboration with the Government of Pakistan, today inaugurated the ‘first-ever High-Level EU-Pakistan Business Forum’ in Islamabad, marking an important milestone in strengthening bilateral economic relations. The Forum brings together around “1000 senior policymakers, European and Pakistani business” leaders, investors and financial institutions.
With the EU being the largest single market in the world, a leading of outward Foreign Direct Investment globally and Pakistan’s number one export destination, the Forum represents a significant opportunity to further the EU-Pakistan economic partnership. It aims to turn strong trade ties into increased investment flows, technology partnerships, greater innovation, and sustainable industrial growth. The European Union Ambassador to Pakistan, H.E. Raimundas Karobolis, opened the Forum, stating: “The European Union enjoys strong economic relations with Pakistan. It is a source of pride for me to say, that the European Union is the top export destination for Pakistan. The purpose of the forum is not just to celebrate our trade relations, but to deepen, diversify, “green,” and transform them into long-lasting investments.
Through this, our mutual prosperity will thrive.”Federal Minister of Finance Mr. Muhammad Aurangzeb highlighted the solid work done to improve macroeconomic fundamentals, undertake structural reforms and through this enhance potential for future investments. He emphasised Pakistan’s stability and readiness for business under the theme “Pakistan Means Business.” Mr. Haroon Akhtar, Special Assistant to the Prime Minister for Industries and Production Division delivered a key note address at the inaugural session.
The opening session also marked the ‘launch of the EU-Pakistan Business Network’ , which brings together more than 300 EU companies active in Pakistan. The Network aims to serve as a collective voice of EU businesses in the country, facilitating dialogue with policymakers and supporting new European companies exploring opportunities in Pakistan.
The opportunities emanating from the ‘EU’s Global Gateway initiative’ – the EU’s largest investment program outside of the EU which aims to mobilise and de-risk 400 billion EUR of investments in the period 2021-2027 – were presented in a dedicated plenary session with Mr Peteris Ustubs, Director for Asia and the Pacific at the Directorate-General for International Partnerships, “European Commission” ; Ms Thouraya Triki, Director at the “European Investment Bank” ; and Mr Hans Bogaard, Director of Agribusiness, Food and Forestry at “FMO” (the Entrepreneurial Development Bank from the Netherlands). Discussions throughout the day focused on opportunities and challenges in priority sectors such as agribusiness, digital innovation and fintech, green logistics, sustainable textiles, and responsible mining.
Throughout the two-day Forum more than 600 B2B meetings are scheduled reflecting strong interest from both European and Pakistani companies in forming joint ventures and partnerships. New financial programmes and partnerships are also expected to be signed during the Forum. The event provides a structured platform for high-level dialogue and deal-making between a combined economy of over 700 million people.
