Islamabad: Pakistan and the European Union are scheduled to make stronger economic relations with the launch of the European Union’s opening forum, to be held from May 14 to 15 in Islamabad. This historic event aims to enhance cooperation between both regions and was announced in a joint statement issued by the Pakistani government and the European Union delegation on Tuesday.
The European Union, known as the largest unified market in the world and the largest destination for Pakistani exports, stands as a major global economic partner. With foreign direct investment (FDI), which represents 42 % of external global investments, the European Union is also the leading foreign investor worldwide.
With the highlight of Pakistan’s vast capabilities, the statement referred to the growing market in the country for more than 240 million people, the costs of competitive workers, the Central Strategic location and South Asia, and its preferential commercial arrival to the European Union – leads to an abundance of commercial opportunities.
The forum will witness the participation of the best policy makers, including the Prime Minister, Finance and Trade Ministers, as well as business leaders and executives from Europe, Pakistan and financial institutions such as the European Investment Bank, investors and other stakeholders.
Throughout the two -day event, the forum will review the innovative sectors of Pakistan such as agricultural work, energy, renewable energy, green logistics, pharmaceutical preparations, textiles and textiles. It will also focus on strengthening dialogue between the government and the private sector to improve regulatory frameworks and enhance sustainable trade practices.
In addition, the European Union Global Portal Strategy – the largest investment initiative outside the European Union, will be offered to benefit from global investments worth 300 billion euros by 2027.
“European companies are increasingly recognized by Pakistan as a promising trade destination. This forum provides a vital opportunity to enhance cooperation, expand trade and explore new economic partnerships between Europe and Pakistan, while also helping Pakistan to benefit from the capabilities of the global gate.”
Along with meetings of business and appropriate to the government, the forum will witness attractive discussions, exhibitions, and the launch of the European Union’s business network-a group of more than 300 European companies operating in Pakistan.
The statement concluded that “this forum represents an important step towards strengthening the economic association between Pakistan and the European Union, which paves the way for mutual prosperity and augmented cooperation.”
