Aurangzeb, UK minister discuss bilateral trade

Federal Finance Minister Senator Muhammad Aurangzeb met Anas Sarwar, the UK's Minister of State for Trade, at the Department for Business and Trade in London, according to Business Recorder. Pakistan's High Commissioner to the UK, Tipu Usman, and Khurram Schehzad, Advisor to the Finance Minister, also attended. Both sides said they were committed to delivering concrete outcomes at the forthcoming Pakistan-UK Trade Dialogue Mechanism, which is scheduled to begin in December.

The ministers reviewed current bilateral trade, which stands at USD2.5 billion a year, and agreed that there is substantial room to expand trade in both goods and services. They also pledged to look for new business opportunities in IT, fintech, and manufacturing and production. Both ministers stressed deeper cooperation in these areas to strengthen economic and commercial ties.

Aurangzeb said Pakistan's economy has stabilised and is gaining pace toward growth, pointing to macroeconomic reforms and steps to cut losses and raise efficiency. He added that the government intends to continue privatisation to widen private-sector participation and competition.