Pakistani Prime Minister Shaukat Aziz recently sought the help of the United Kingdom in launching FTA (free trade agreement) talks with the European Union. It must be noted that Pakistan wants to boost its international trade ties with the European bloc through an increase of bilateral trade deals between the two parties. During a meeting, Mr. Aziz told UK Minister for Trade Ian McCartney that his country was prepared to engage into such kind of international trade pact since it had an open economy. The Pakistani prime minister further said that his nation was ready to effectively implement any FTA with the EU. Pakistani Commerce Minister Humayun Akhtar Khan also attended the meeting with Mr. McCartney.

An FTA between the EU and Pakistan was proposed after the European Commission decided to start FTA talks with India, which is the number one rival of India in the European market. Mr. Aziz called for the UK government to assist his country in securing an FTA with the EU. It must be noted that Mr. McCartney headed a delegation to Pakistan to seek ways on improving international trade between Pakistan and the UK. The 10-member group consisted of officials from the London Stocks Exchange, government officials, and representatives from financial firms. According to reports, the Pakistani prime minister said that his country's economy was expanding and offered plenty of international trade and business opportunities.

Mr. Aziz attributed the improvement of Pakistan's economy to the increase of consumer spending and the rapid development of the industrial sector. He further said that the recent listing of MCB (Muslim Commercial Bank) at the London Stock Exchange and the upcoming listing of OGDCL (Oil and Gas Development Company) were proofs that the financial and industrial sectors of Pakistan were stable.

The prime minister said that Pakistan's economy has grown significantly due to the many reforms, which were implemented by the government. Such changes included the deregulation of national economy, promotion of business-friendly environment, transparency in all transactions of the government, rationalization of tariffs and taxes, and transparent privatization. Meanwhile, Mr. McCartney said that some banks, as well as other financial firms in his nation, have found the business climate in Pakistan to be favorable. He added that some of them were considering to negotiate potential international trade deals with Pakistan to expand or establish new businesses there. Mr. McCartney also said that many private companies were also interested in signing international trade deals in various sectors such as energy and health care.