KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has established the Pakistan-EU Business Forum and held its inaugural meeting to explore untapped trade, investment and industrial collaboration opportunities with the European Union -- one of the world’s most significant regional economic alliances.
According to a statement, FPCCI President Atif Ikram Sheikh said that accessing the EU market in a meaningful way could transform the local economy. He said that the EU’s geographical proximity and regulatory uniformity present a vast market for Pakistani products across multiple industries and sectors.
The FPCCI president highlighted Pakistan’s major exports to the EU, including textiles and garments, agricultural products and leather goods, which collectively generate $10 billion annually. However, he stressed the need to diversify Pakistan’s export portfolio to fully capitalise on the benefits of the country’s GSP Plus status with the EU.
Zubair Baweja, chairperson of the Pakistan-EU Business Forum at the FPCCI, welcomed and congratulated the participants of the inaugural session, noting that the EU is Pakistan’s second-largest trading partner. “We aim to diversify, expand and enhance the value of our export basket to EU member states,” he added.
Baweja further said that the establishment of the Pakistan-EU Business Forum marks a significant step towards strengthening Pakistan-EU trade relations. He emphasised that the FPCCI looks forward to collaborating closely with EU diplomatic missions, trade delegations, and Pakistani businesses to foster mutual cooperation and growth. It was also decided that working groups would be formed for various sectors and product categories to ensure a focused and results-oriented approach to trade and industry facilitation.