London: Pakistan and the United Kingdom have officially signed an agreement to establish a Trade Dialogue Mechanism, marking a significant step toward institutionalizing bilateral economic cooperation.
The agreement was signed by Pakistan’s Federal Minister for Commerce, Jam Kamal Khan, and UK Minister Douglas Alexander.
This is the first high-level trade agreement Pakistan has concluded following approval from its federal cabinet.
The agreement aims to explore trade opportunities, remove barriers, and enhance mutual investment between the two countries.
It also sets the foundation for the establishment of joint working groups and regular review meetings.
Both sides agreed to focus on collaboration in key sectors such as digital trade, renewable energy, agriculture, and pharmaceuticals.
The initiative is expected to open new markets, generate employment opportunities, and promote sustainable development.
Pakistan highlighted its potential in IT, agri-tech, and the pharmaceutical sector to boost exports.
The UK agreed to extend trade facilitation for Pakistan under its Developing Countries Trading Scheme (DCTS).
This landmark agreement is seen as a gateway to ushering bilateral relations into a new era of economic partnership.
