Finance Minister Muhammad Aurangzeb on Friday underscored the government’s commitment to supporting European Union businesses in Pakistan and facilitating their operations, including ensuring the timely repatriation of dividends and profits.
In a meeting with E.U. Ambassador Riina Kionka in Islamabad, he discussed various matters of mutual interest, particularly regarding strengthening business and investment ties between the E.U. and Pakistan. The meeting deliberated on the need to create an enabling investment climate to harness the growing appetite for expansion, with Kionka noting the E.U. had already mapped over 300 European companies operating in Pakistan, and believed many more were present.
During the meeting, the E.U. envoy invited Aurangzeb to attend a business and investment forum the E.U. Mission in Pakistan is planning to host in Islamabad in mid-May. The forum, she explained, aims to foster collaboration and discuss how Pakistan can continue to attract European business investment. She emphasized that European companies were increasingly viewing Pakistan as a hub for potential business opportunities, especially in light of the upcoming forum.
Thanking Kionka for the invitation, the minister assured her of his full support and said he would both attend and speak at the event in person. He also welcomed the creation of 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.
Additionally, Aurangzeb appreciated the E.U.’s support for Pakistan, particularly the importance of the Generalized Scheme of Preferences-Plus facility. He highlighted that GSP-Plus has been a critical enabler of Pakistan’s efforts to drive export-led growth. He emphasized on 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, describing it as vital for Pakistan’s trade ties with the E.U.
The meeting concluded with both leaders reaffirming their shared commitment to enhancing economic and trade ties between Pakistan and the European Union, and to creating a thriving and mutually beneficial business environment for both sides.