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Commonwealth Business Forum to improve trade ties with 53 countries

Commonwealth Business Forum to improve trade ties with 53 countries

ISLAMABAD: President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Ghazanfar Bilour on Friday said Commonwealth Business Forum is a unique and historic opportunity to improve trade ties between Pakistan and 53 Commonwealth countries.

Commonwealth Business Forum being held in the UK from April 16 to April 19 will represent the interests of over 2.6 billion people with a combined GDP of over 12 trillion dollars, he said.

Talking to the British Deputy High Commissioner Richard Crowder, FPCCI head said that steps should be taken on all forums to increase the existing trade volume between the two countries, said a press release. We have shared values, legal and regulatory systems and language that makes trade costs on average 19 percent lower between Commonwealth countries, he added.

Others present on the occasion included British trade and diplomatic officials including Mathew Lister, Dr. Evan MacMillan, Jason John Mumtaz. VP FPCCI Karim Aziz Malik, Malik Sohail, and Tanveer Afsar Malik also attended the meeting.

Ghazanfar Bilour said that Prime Minister Shahid Khaqan Abbasi and Commerce Minister Pervaiz Malik will also attend the high profile event while he is leading a delegation of 52 businessmen who will debate the economic issues facing their countries in 2018 and beyond.

Important decisions would be taken during the forum while the Queen of England will also participate in the event, he said.

He said that the economy of Pakistan is improving; the country is emerging as a good investment destination and we want to increase trade ties with the UK and all other Commonwealth countries.

The President FPCCI also informed the British officials about the positive policies of the government and the opportunities appearing from the CPEC.

The British diplomatic and trade officials said that apart from heads of states around 800 CEOs of leading companies will also participate in the forum. They expressed their willingness to improve trade with Pakistan and said that Islamabad will be given more trade relaxations.