Pakistan & Scotland Enter into a Massive B2B Collaboration Irfan Iqbal Sheikh

Karachi (PR): Mr. Irfan Iqbal Sheikh, President FPCCI, has apprised the entire business, industry and
trade community of the country that Pakistan & Scotland have entered into a massive B2B collaboration
with Scottish Chamber of Commerce; and, the partnership collaboration agreement will provide Pakistani
businesses access to around 15000 Scottish businesses. It is a huge achievement vis-à-vis export
promotion, FDI, JVs and B2B linkages, he added.

Pakistani delegation visiting Scotland is headed by Mr. Suleman Chawla, SVP FPCCI and includes
prominent industrialists from Pakistan; who were also joined by leading businessmen from Scotland, rest
of the UK and the EU countries.

Mr. Suleman Chawla has said that one of the distinguishing features of the agreement is that 30 regional
chambers from Scotland will also take part in commercial activities with Pakistani companies under the
agreement. These regional chambers represent some of the major commercial, industrial and financial
centres of Scotland; including, but not limited to, Edinburgh, Glasgow, Aberdeen, Dundee, etc.

It is pertinent to note that Mr. Suleman Chawla and Dr. Liz Cameron, CEO of Scottish Chambers of
Commerce, have signed the agreement in the presence of Syed Zahid Raza, Consul General of Pakistan in
Glasgow and other high-ranking diplomats

Mian Nasser Hyatt Maggo, immediate Past President of FPCCI, explained that the only way possible for
Pakistan to cut the grossly unsustainable trade deficit, which clocked at $48.66 bn in FY22; build foreign
exchange reserves (FER) and reduce current account deficit (CAD), which was $17.4 bn in FY22, is to
increase our exports on a war-footing and incentivize industrialization

Mr. Imran Khalil Naseer, Chairman of FPCCI’s Pak-UK Business Council (PUKBC), said that
Scotland is one of the very few countries of the world with which the country enjoys a bilateral
trade surplus as our exports stand at £75m and imports at £14m. He elaborated that the major
sectors that stand to benefit with the new partnership agreement are banking & financial
services, including FinTech; capital markets; value-added textiles; hospitality & tourism;
large-scale manufacturing (LSM); agriculture & food processing; IT & ITeS and FMCGs.

Mr. Imran Khalil Naseer and Mr. Muhammad Akhtar, Pakistan’s Trade & Investment Secretary for
Scotland jointly conducted a detailed presentation on the opportunities and prospects for the Scottish
investors & entrepreneurs.

Brig Iftikhar Opel, SI (M), Retd.

Secretary General