Britain and Pakistan to boost trade, security ties
The UK is in talks to boost trade and security cooperation with Pakistan, Foreign Minister Boris Johnson said on Thursday (November 24), as part of London’s efforts to improve trade links with emerging market countries.
Britain has been seeking to bolster global trade ties following its June referendum vote to leave the European Union, with the government seeking to broaden relations with fast-growing economies outside Europe.
On his visit to Pakistan, Johnson said talks were progressing on plans to increase annual trade beyond 2.5 billion pounds ($3.11 billion) per year.
The two countries have had strong cultural ties since Pakistan gained independence from Britain in 1947, with more than 1 million people of Pakistani origin currently residing in Britain.
Pakistan’s spluttering economy has rebounded in recent years, helped by improved security in the country, and growth is expected at just over 5 percent this fiscal year, the highest rate since 2008.