United Kingdom Ministers promote Pakistan as a good place for British Business to invest - AsiaNet-Pakistan

United Kingdom Ministers promote Pakistan as a good place for British Business to invest

[ 0 ] January 12, 2012 | Financial Services, Government Institutions | Share:

Islamabad: “I am proud that it is a British company that is opening up the first international department store in Pakistan”, Baroness Warsi said.

Lord Green, UK Minister of State for Trade and Investment and UK Cabinet Minister Baroness Warsi today promoted Pakistan as a good place for British businesses to invest while visiting a new shopping centre in Karachi where British retail company Debenhams will shortly open its first shop in the country.

British Deputy High Commissioner Francis Campbell and Yasin Paracha from Team A Ventures Pakistan, the franchisee of Debenhams in Pakistan, also attended the launch event.

The 27,000 sq foot store, set to open in April this year, will be Pakistan’s first international department store. Debenhams will be joining other British brands in Pakistan like Next, Mothercare, Early Learning Centre, Accesorize and Monsoonto bring popular goods to a growing market.

Minister of State, Lord Green said:

“The UK Government is fully committed to building on the bilateral trade relationship between our two countries. Encouraging more British companies, including those in the retail sector, to consider Pakistan as an investment destination will be key to achieving this. This new store represents further progress towards our goal of increasing the £1.9bn worth of trade that already flows between our two countries every year.”
UK flagship store Debenhams opens in Karachi

Baroness Sayeeda Warsi said:

“I am proud that it is a British company that is opening up the first international department store in Pakistan. UK retail companies are up there with the best in the world, so I hope that many more will look to invest in and create jobs in Pakistan. We are already making great progress in our goal of increasing trade between our two countries, with double-digit rises in both directions in the last year, but we are ambitious and keen to do more.”

British Deputy High Commissioner and Director UK Trade and Investment Francis Campbell added:

“Pakistan has the potential to be the primary target for all British brands who want to benefit from this relatively untapped market. UKTI were delighted to work with Team A ventures in helping Debenhams achieve this milestone. They will be joining other British Brands in Pakistan such as Next, Mothercare, Early learning Centre, Accessorize and Monsoon in targeting the country’s emerging urban and middle classes.”

Adnan Hamid, a General Manager for Debenhams in Pakistan said:

“Debenhams, with a portfolio of internationally renowned fashion designers, 65 franchises around the world, is here to change lifestyles. In an enthusiastic market like Pakistan, it is going to get bigger and better – the perfect international offering for an extremely prospective local market.”

For more information, contact:
Mike Girling
Press Attaché
British High Commission
Islamabad
Tel: +9251 201 2000
Cell: +92300 500 5306
Website: http://ukinpakistan.fco.gov.uk

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Category: Financial Services, Government Institutions