ISLAMABAD: Senator Muhammad Aurangzeb, federal minister for finance and revenue and Dr Riina Kionka, ambassador of the European Union to Pakistan during a meeting on Friday, discussed the idea of creating a proactive and unified business platform for European companies to strengthening business and investment ties between the two sides.
During the meeting, Senator Aurangzeb and Ambassador Kionka discussed opportunities for European businesses in Pakistan, emphasising the need to create an enabling investment climate to harness the growing appetite for expansion.
Dr Kionka shared that the EU had already mapped over 300 European companies operating in Pakistan, with the belief that many more are present.
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She extended an invitation to Senator Aurangzeb to attend a business and investment forum, which the EU Mission in Pakistan is planning to host in Islamabad in mid-May 2025. The forum aims to foster collaboration and discuss how Pakistan can continue to attract European business investment.
She emphasised that European companies were increasingly viewing Pakistan as a hub for potential business opportunities, especially in light of the upcoming forum.
Senator Aurangzeb thanked Dr Kionka for taking the initiative to host the forum and assured her of his full support. He expressed his intention to attend and speak at the event in person, underscoring the government’s commitment to supporting EU businesses in Pakistan and facilitating their operations, including ensuring the timely repatriation of dividends and profits.
The minister also welcomed the idea of creating a proactive and unified business platform for European companies, noting his recent positive engagement with a group of French and Dutch companies operating in Pakistan.
Furthermore, he expressed appreciation for the EU’s support for Pakistan, particularly, the importance of the Generalized Scheme of Preferences Plus (GSP Plus) facility. He highlighted that GSP Plus has been a critical enabler of Pakistan’s efforts to drive export-led growth.
The minister also emphasised the need for a more proactive approach in reaching out to European capitals for constructive engagement on key issues, including the continuation of the GSP Plus facility, which is vital for Pakistan’s trade relations with the EU in the coming years.
In closing, both leaders reaffirmed their shared commitment to enhancing the economic and trade ties between Pakistan and the European Union and to creating a thriving and mutually beneficial business environment for both sides.
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