Mr. Atif Ikram Sheikh, President of FPCCI, has informed that the apex body has established and held the first meeting of the Pak—EU Business Forum to explore untapped trade, investment, economic, and industrial collaboration potential with the European Union, the world’s most important regional economic alliance.

Mr. Atif Ikram Sheikh added that substantively cracking the EU market can transform the entire economy of Pakistan, as geographical contiguity and regulatory uniformity offer a huge market for Pakistani products in a number of industries, sectors, and verticals.

President FPCCI highlighted Pakistan’s major exports to the EU—including textiles and garments, agricultural products, and leather goods—which are valued at $10 billion annually. Nonetheless, he emphasized the need to diversify Pakistan’s export portfolio to fully capitalize on the benefits of Pakistan’s GSP Plus status with the EU.

Mr Zubair Baweja, Chairman of Pak—EU Business Forum of FPCCI, welcomed and congratulated the participants of the inaugural session and informed them that the EU is Pakistan’s second-largest trading partner. We are aiming to diversify, enrich, expand, and value-add our export basket to EU member states, he added.

Mr Zubair Baweja noted that the formation and activation of the Pak – EU Business Forum marked a significant step towards strengthening Pakistan – EU trade relations. FPCCI looks forward to working closely with the EU diplomatic missions, trade delegations and Pakistani businesses to promote cooperation and growth. He added that it was decided to make working groups on different sectors and product categories for a focused and result-oriented facilitation of the trade & industry.