Commonwealth Greater Birmingham
Commonwealth Chamber of Commerce
Contact: Jamila Davis T: 0121 607 1826
Commonwealth Chamber Patron
Pakistan link-up is boost for the region
Just over a year ago, the UK and Pakistan governments pledged closer trade and investment ties after Brexit. Keith Stokes- Smith, president of the Greater Birmingham Commonwealth Chamber of Commerce, explains how this is likely to benefit businesses in the West Midlands.
The UK and Pakistan made a joint commitment in September 2017 to closer trade and investment links after Brexit confirming that both governments are ambitious to see more British trade and investment in Pakistan, as well as Pakistani businesses exporting to and operating in the UK. Both governments have confirmed that they
are committed to work with businesses in both countries, to strengthen these ties into the future. A positive stance for us here in the West Midlands after all, Pakistan is an emerging market with a young and growing population of around 200 million. Further, it has an affinity for UK expertise,
products and brands provides good opportunity for Greater Birmingham's business to increase UK exports of goods and services in this unsaturated and rapidly growing market. UK-Pakistan bilateral trade in 2017 was £2.9
billion with UK exports of both goods and services of £1.1 bn. Important sectors for UK businesses in Pakistan include: • professional services • energy • infrastructure • healthcare • education • defence • security • consumer goods.
Picking up on one of the above sectors, the
Pakistan-China economic corridor, worth at least $54 billion over the next 15 years, will offer UK companies opportunities, particularly in the energy sector. Exporting to Pakistan is made more attractive
by the doubling of support the UK’s credit agency (UK Export Finance) has given for Pakistan. This support ensures UK exporters get paid
for export contracts, and to help Pakistan’s buyers access finance to source high-quality UK goods and services. As is often the case when trading with a
fellow commonwealth nation, some of the benefits of trading with Pakistan include a common business language (English), similar legal practices and, as referred to earlier, an affinity for and familiarity with UK companies and brands and a growing middle class. Opportunities for our businesses in Pakistan
are across both the goods and services sector to include infrastructure, energy, healthcare, education, retail and leisure, security and defence, financial and consultancy services. A strong approach to corporate law, including
the protection of intellectual property rights and removal of restrictions on foreign investment, is also attracting overseas investors to Pakistan and the country is home to more than 1,000 international brands, with more than 100 from UK.
No need
for planes: Jamila Davis
A great place to make connections
Greater Birmingham Commonwealth Chamber of Commerce (GBCCC) is urging businesses to ‘gain access to international markets without jumping on a plane’ simply by being members. Jamila Davis, GBCCC’s first dedicated
senior business development manager, says the organisation is a great place to make new connections in Commonwealth markets. Ms Davis is keen to expose businesses to
the opportunities in Commonwealth markets, including providing them with crucial cultural knowledge needed to gain access. She said: “Joining the GBCCC and
connecting businesses with representatives from countries, or businesses that have traded with other countries, minimises risk and only enhances the rewards. “The biggest issue I hear from businesses
trading internationally is understanding the cultural aspects of doing business in other countries. Not understanding these cultural niches may be the make or break for businesses trading internationally, so it’s absolutely crucial that they understand these niches before they set foot on a plane. “The GBCCC is a one-stop shop for members to understand what it takes to do business in Commonwealth countries.” Currently, 42 businesses are fully fledged
members of the Chamber. However Ms Davis is determined to grow
the presence of the Chamber, sign post members to procurement, tendering and supply chain opportunities at the Birmingham 2022 Commonwealth Games and help businesses look to future trading. She said: “I want businesses to look
beyond Brexit and the Commonwealth Games and view the horizon of opportunities available in Commonwealth countries. Joining the GBCCC will support bilateral trade for all business in the UK and Commonwealth.”
December 2018/January 2019 CHAMBERLINK 35
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