EU-Pakistan business forum set to take place in May

The inaugural EU-Pakistan Business Forum is set to take place in Islamabad from May 14-15 to enhance economic cooperation, according to a joint announcement by the government and European Union delegation on Tuesday. The EU is the largest single market in the world and the largest destination for Pakistani ex-ports. The EU is also the world’s largest foreign investor representing 42 per cent of outward foreign direct investment globally. Earlier this month, Prime Minister Shehbaz Sharif reaffirmed Pakistan’s desire to further strengthen its cooperative partnership with the EU and welcomed the convening of the business forum. “With a rapidly growing market of over 240 million people, competitive labour costs, strategic geographical access to Central and South Asia and a preferential trade access to the EU, Pakistan offers immense business opportunities,” the joint statement read.