Pakistan, UK sign framework agreement to boost bilateral trade

Islamabad (Web Desk):  Pakistan and the United Kingdom have formally signed an agreement under the "Trade Dialogue Mechanism" aimed at strengthening institutional economic cooperation and enhancing bilateral trade.

The agreement was signed by Pakistan’s Federal Minister for Commerce, Jam Kamal Khan, and UK Minister Douglas Alexander. It marks the first high-level trade agreement Pakistan has finalized following formal approval from the federal cabinet.

This milestone agreement is expected to lay a strong foundation for structured economic engagement between the two nations. Both sides have agreed to explore new trade opportunities, remove existing barriers, and increase mutual investment.

Under the deal, joint working groups will be formed, and regular review meetings will be held to ensure progress and practical outcomes.

Key sectors identified for collaboration include digital trade, renewable energy, agriculture, and pharmaceuticals — all seen as vital for future economic growth, job creation, and sustainable development.

Pakistan highlighted its priority sectors for exports, including information technology, agri-tech, and the pharmaceutical industry, showcasing their potential for expansion in global markets.

Additionally, the UK has agreed to extend preferential trade benefits to Pakistan under its Developing Countries Trading Scheme (DCTS) — a new initiative designed to support developing economies through enhanced market access.

This landmark agreement is expected to usher in a new phase of economic cooperation between the two countries, paving the way for increased trade, investment, and long-term development.