Latest news with #JamKamalKhan
Express Tribune
2 days ago
- Business
- Express Tribune
Pakistan-Vietnam trade to hit $1b, eyes $10b target
Vietnam's Ambassador to Pakistan, Pham Anh Tuan, on Monday, said that bilateral trade between Pakistan and Vietnam is expected to soon reach $1 billion, paving the way for a stronger economic partnership. "The steady growth shows the solid foundation on which we can build toward our ambitious target of $10 billion in bilateral trade," the ambassador told APP. The prime ministers of both countries have already agreed on this long-term goal. The ambassador said the vision goes beyond traditional trade and aims to develop a comprehensive economic partnership. With a combined market of 350 million people, both sides see strong potential for deeper integration. He noted Vietnam's global trade volume stands at $800 billion, with plans to reach $1 trillion, creating major opportunities for Pakistani exporters. The ambassador said bilateral trade had reached approximately $850 million in 2024. Pakistan's imports from Vietnam were $522 million, while its exports stood at $328 million. This reflects progress from the previous year, when trade totalled $750 million in 2023. According to 2024 data, Pakistan's main exports to Vietnam include cereals ($117.26 million), cotton ($65.64 million), raw hides and leather ($26.59 million), meat products ($14.33 million), and pharmaceuticals ($10.67 million). Vietnam's key exports to Pakistan include electrical and electronic equipment ($186.67 million), coffee, tea and spices ($30.70 million), and man-made filaments ($20.63 million). Both countries have identified priority sectors for cooperation, such as textiles, agriculture, pharmaceuticals, information technology, and energy. Vietnam is also interested in importing more Pakistani rice, textiles, and leather, while encouraging Pakistani investment in Vietnam's manufacturing and tech industries. The ambassador said the complementary nature of the two economies provides a strong base for growth. Vietnam's strengths in electronics, machinery, and processing align with Pakistan's capabilities in textiles, agriculture, and pharmaceuticals. He highlighted the 5th Meeting of the Pakistan-Vietnam Joint Trade Committee, held in Hanoi on July 11, 2025, as a major development in bilateral relations. The meeting was witnessed by Pakistan's Commerce Minister Jam Kamal Khan and Vietnam's Minister of Industry and Trade, Nguyen Hong Dien. At the meeting, both sides agreed to begin negotiations on a Pakistan-Vietnam Preferential Trade Agreement (PTA) within 2025. This step is expected to formalise trade ties and reduce commercial barriers. The reactivation of the Joint Trade Committee after eight years marked a strategic reset, said the envoy. The committee serves as a structured platform for sustained dialogue and cooperation. The committee agreed to promote PTA talks, trade promotion, textile and garment cooperation, aquaculture, trade facilitation, and halal trade development. Other areas discussed included aviation, finance, healthcare, human resources, and visa facilitation. The ambassador said both countries aim to enhance trade, investment, technology transfer, and industrial collaboration. He added that the partnership will be supported by institutional frameworks and regular high-level exchanges.
Express Tribune
5 days ago
- Business
- Express Tribune
Pakistan aims to expand exports
Listen to article Federal Minister for Commerce Jam Kamal Khan, in a productive day of engagements in Birmingham, explored the potential for deeper commercial ties, unlocking new market opportunities and expanding Pakistan's export footprint in the United Kingdom. The minister held a detailed meeting with the Greater Birmingham Chamber of Commerce, where he highlighted Pakistan's readiness to diversify its export basket in line with the UK's industrial needs. While acknowledging the growing trade volumes with the Midlands, he underlined Pakistan's evolving strengths beyond traditional sectors, including in processed foods, fisheries, pharmaceuticals, leather goods, IT services, furniture, ceramics and sports goods. Later, the minister visited Nouvo, a major UK-based food distribution company, where he met prominent retailers and distributors engaged in importing food products from Pakistan to the UK Midlands. Discussions focused on strengthening commercial supply chains and expanding the footprint of halal-certified and ethnic food products from Pakistan in the British market. In his meeting with the UK-Pakistan Chamber of Commerce and Industry, the minister called for enhanced matchmaking between the UK importers and reliable Pakistani suppliers. He urged the chamber to mobilise diaspora-led investments in Pakistan through joint ventures, franchising and startup incubation, and proposed greater support for tourism and culture-focused initiatives. In a meeting with the London Chamber of Commerce and Industry, the minister emphasised that the recently launched UK-Pakistan Trade Dialogue was poised to introduce a new era of predictability, transparency and business-friendly policies in bilateral trade. He encouraged the chamber to explore the potential of sector-specific memoranda of understanding (MoUs) with Pakistani chambers and trade bodies to unlock joint opportunities.
Arab News
5 days ago
- Business
- Arab News
Pakistan minister pushes for deeper UK trade links during Birmingham visit
ISLAMABAD: Pakistan's commerce minister has met with key UK businesses and trade bodies in Birmingham, promoting deeper commercial ties and encouraging new investment in sectors beyond traditional textile exports, the state-run Associated Press of Pakistan (APP) reported on Friday. Jam Kamal Khan, who is on an official visit to the United Kingdom, on Thursday held meetings with the Greater Birmingham Chamber of Commerce, major Pakistani food retailers and British firms in the Midlands, pitching Pakistan's strengths in processed foods, pharmaceuticals, leather goods, and information technology. Pakistan exported £2.5 billion worth of goods and services to the UK in 2024, while importing £2.2 billion, according to the UK government. Total trade between the two countries stands at £4.7 billion, up 7.3 percent from the previous year. 'Khan highlighted Pakistan's readiness to diversify its export basket in alignment with the UK's industrial needs,' APP reported. The minister emphasized Pakistan's value proposition in supplying Birmingham's advanced manufacturing and automotive sectors, citing 'cost-effective production capabilities and expertise in light engineering and metal fabrication.' During his engagements, the minister also 'spotlighted Pakistan as a reliable partner' in Birmingham's electric vehicle (EV) supply chains and renewable energy push. 'He underscored opportunities under Pakistan's National EV Policy... in areas such as battery technology and electric drivetrains,' APP added. The visit also included a stop at Birmingham City Football Club, where the minister discussed community outreach and Pakistan's role in manufacturing football equipment used in top global leagues. Later, at food distributor Nouvo, which supplies major UK supermarkets, Khan met with retailers of Pakistani products and explored expanding halal-certified and ethnic food lines in the British market. 'These engagements underscore Pakistan's renewed emphasis on industrial linkages, regional value chains, and diaspora-led commercial diplomacy,' the APP statement said. The trip is part of Pakistan's broader strategy to deepen trade relations with key partners. While the UK remains one of Pakistan's top European export destinations, the country is also pursuing tariff concessions with the United States and courting Gulf investors under its Special Investment Facilitation Council.
Business Recorder
6 days ago
- Business
- Business Recorder
Pakistan ready to diversify exports to match UK industry needs: Jam Kamal
Federal Minister for Commerce Jam Kamal Khan expressed Pakistan's readiness to diversify its export basket in alignment with the UK's industrial needs. He said this during his meeting with the Greater Birmingham Chamber of Commerce. The minister acknowledged the growing trade volumes with the Midlands, and underlined Pakistan's evolving strengths beyond traditional sectors, including in processed foods, fisheries, pharmaceuticals, leather goods, IT services, furniture, ceramics, and sports goods, said a statement by the ministry. He also encouraged businesses in Birmingham to explore high-quality Pakistani products such as Basmati rice, mangoes, and halal-certified processed foods. 'In particular, he spotlighted Pakistan as a reliable partner for Birmingham's advanced manufacturing and automotive supply chains — citing cost-effective production capabilities, expertise in light engineering and metal fabrication, and Pakistan's strong track record in supplying global automotive brands.' The Minister also underscored opportunities under Pakistan's National EV Policy and renewable energy shift, especially in areas such as battery technology and electric drivetrains, which directly align with Birmingham's green mobility ambitions. The press release said that the minister visited 'Nouvo' a major UK-based food distribution company, and also the Birmingham City Football Club. His discussions at Nouvo focused on strengthening commercial supply chains and expanding the footprint of halal-certified and ethnic food products from Pakistan in the British market. 'These engagements underscore Pakistan's renewed emphasis on industrial linkages, regional value chains, and diaspora-led commercial diplomacy, reflecting a strong intent to position Pakistan as a value-added trade partner to the UK.'
Express Tribune
16-07-2025
- Business
- Express Tribune
Govt, UK lawmakers discuss diaspora-driven investment
Listen to article Federal Minister for Commerce Jam Kamal Khan met with members of the All-Party Parliamentary Group (APPG) on Pakistan at the House of Commons on Tuesday. According to an official statement, the meeting focused on strengthening bilateral economic ties, enhancing parliamentary cooperation, and tapping into the potential of the 1.7 million-strong British Pakistani diaspora to boost trade and investment. The minister briefed APPG members on Pakistan's recent economic reforms aimed at promoting macroeconomic stability and inclusive growth. He highlighted key initiatives such as tariff rationalisation under the National Tariff Policy, the launch of the Pakistan Single Window to facilitate trade, and the development of Special Economic Zones offering incentives to foreign investors. The two sides also discussed collaboration opportunities in green technologies, renewable energy, and Pakistan's growing IT sector. These areas were identified as key to positioning Pakistan as a competitive hub for UK firms seeking to diversify their supply chains. Minister Jam Kamal emphasised the diaspora's role in connecting both nations and urged continued parliamentary engagement and private sector cooperation to maintain momentum following the UK-Pakistan Trade Dialogue Mechanism signed earlier that day. The meeting reaffirmed a joint commitment to sustainable partnerships for mutual prosperity. Later in the day, the commerce minister also met Mohammad Yasin MP, the UK Prime Minister's Trade Envoy to Pakistan, at the House of Commons. Pakistan's High Commissioner to the UK, Dr Mohammad Faisal, also attended the meeting. The minister congratulated Yasin on his appointment and appreciated his successful visit to Pakistan in June 2025, which helped lay the foundation for stronger economic cooperation. Both sides agreed on the need to deepen trade and investment ties by leveraging historical connections and the recently launched UK-Pakistan Trade and Investment Dialogue. Jam Kamal underscored the importance of the Dialogue in tackling market access issues, promoting investment, and increasing trade under the UK's Developing Countries Trading Scheme (DCTS). The minister also welcomed the formation of the UK-Pakistan Business Advisory Council (UKPBAC) and urged better coordination between diaspora entrepreneurs and chambers of commerce. Opportunities for collaboration were noted in key sectors including renewable energy, ICT, agriculture, and higher education. Both sides committed to boosting parliamentary links and exploring regular exchanges to advance political and economic relations.
