Pakistan to strengthen economic and trade ties with EU


ISLAMABAD: Federal Commerce Minister, Syed Naveed Qamar said on Friday that Pakistan will strengthen its economic and trade relations with the European Union (EU) member countries.

Pakistan wishes to remain constructively engaged with the EU and its Member States to strengthen trade relations in terms of protecting and promoting the social, economic and other rights of the Pakistani people, the Minister of Commerce said.

The federal minister voiced these views during a meeting with Polish Ambassador to Pakistan Maciej Pisarski here in the minister’s room in parliament, a press release posted here said.

Federal Secretary, Muhamad Sualeh Ahmed Faruqui, Additional Secretary, Syed Hamid Ali, and Deputy Secretary, Mr. Atif Aziz also attended the meeting.

During the meeting, Syed Naveed Qamar said Pakistan is seeking to strengthen its international relations as it refocuses on economic development through trade and connectivity. Strengthening relations with friends and partners remains Pakistan’s top priority.

He said that Pakistan and Poland continue to enjoy positive relations in bilateral trade, cooperation in education, parliamentary relations, among others.

Qamar said that Poland produces 80% of its energy from coal and therefore can provide assistance to Pakistan in this area since the country has huge coal reserves, adding that in March 2023 Pakistan will double its production , given its importance. in the future in the field of energy.

Ambassador Maciej Pisarski said he was pleased with the growing volume of trade between the two countries as Poland became Pakistan’s 7th largest trading partner in the EU and in the fiscal year 2021-22, the total two-way trade reached about 506.6 million dollars.

He said the two countries have great potential in energy, digital technology, vehicles, machinery, engineering goods, IT, pharmaceuticals, agriculture and tourism, which need to be improved to reach their real potential.

He also expressed concern over problems faced by some Polish companies after a change implemented by the State Bank of Pakistan in all commercial sections of commercial banks to control foreign exchange reserves.
For this, the Minister assured his full support in this regard and said that all concerns of Polish companies will be addressed immediately after the meeting with stakeholders.

Earlier, the Ambassador expressed his sympathy for the current situation in Pakistan due to the floods and expressed his deep sadness for the loss.

He also assured the full support of the Polish government and the absence of government in this hour of the track.


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