PM vows stronger EU investment ties

Prime Minister Shehbaz Sharif on Tuesday reaffirmed Pakistan’s commitment to strengthening trade and investment ties with the EU.

The premier expressed the resolve during a meeting with a high-level EU trade and business delegation in the federal capital, according to a statement issued by the PM’s Office (PMO).

The delegation included International Partners at 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’s House, the premier 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 the delegation members shared their own experiences of investing in Pakistan and said there are strong prospects for 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 main destination for our exports in terms of volume,” the PM said, adding that the government remained committed to expanding commercial ties and attracting investment.

He further said Pakistan would continue 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.

According to the PMO, the EU representatives praised Pakistan’s role in facilitating dialogue and commended the hosting of the business forum. Delegation members also shared their investment experiences in Pakistan and highlighted potential for expanding cooperation in sectors including energy, communications, and information technology.

Separately, the premier directed the relevant authorities to ensure the provision of all necessary facilities to both domestic and foreign investors in order to boost the country’s exports and said that regulatory compliance processes be simplified and made more cost-effective to boost investment in the country.

In another engagement, the prime minister held a telephone conversation with New Zealand Prime Minister Christopher Luxon, during which the two leaders discussed the evolving situation in the Middle East and bilateral relations, according to an official statement.

Shehbaz briefed PM Luxon on Islamabad’s ongoing engagements with international partners. According to the statement, New Zealand’s PM “appreciated Pakistan’s constructive diplomatic initiatives, particularly its engagements with Washington and Tehran”.