According to the latest news, a seminar titled “Post-Brexit trade relations in European Union: Implications for Pakistan” was organized by Sustainable Development Policy Institute in order to lay emphasis on the importance of urging Pakistan to diversify its exports markets.
It was emphasized during the seminar that besides focusing on CPEC, the country should also pay serious attention to the European Union trade markets in the midst of the emerging scenario of the outcome of Brexit.
If we analyze the EU market, it holds 560 million people so Pakistan should pay great attention to explore multiple trade and investment opportunities with these markets. In order to achieve this objective, Pakistan needs to develop its positive and progressive image as well as its enhanced human rights status.
Pakistan should enhance its business activities with the EU countries in the perspective of attaining long term economic prosperity.
During the seminar, the managing director Brussels Consulting and Independent Scientific Adviser to the European Parliament, Dr Pal Belenyesi said that Pakistan’s economy is not very diversified.
Therefore, its industries should be open to be reshaped and transformed to achieve maximum gains. The industries need upgradation in their manufacturing and by adding value to the products.
Pakistan has more potential to gain more trade from EU countries in the psot-Brexit situation. Therefore Pakistan’s government should take a proactive role to enhance and diversify its exports.