Pak-UK launch new initiative to promote SMEs in Pakistan

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Mohammad Arshad
Islamabad

Pakistan and Unitd Kingdom, Thursday, launched a new initiative to enable small and medium enterprises (SMEs) in Pakistan to effectively engage in international markets.

This UK-funded initiative will help enhance Pakistan’s trade diversification and integration into global value chains.

Un this initiative, a trade facilitation toolbox will be developed, for optimal implementation of the WTO Trade Facilitation Agreement.

The project will also contribute to increased transparency of trade rules and improve business compliance with cross-border requirements.

The programme will also ensure inclusivity through addressing barriers that women businesses face in integrating into export value chains.

The International Trade Centre (ITC) will implement the Revenue mobilization, Investment and Trade Programme (ReMIT) programme. The GBP 5 million project will run from 2020-2024.

These efforts are part of a larger UK-supported REMIT programme aimed at contributing to sustainable and inclusive economic development in the country.

On this occasion, Advisor to Prime Minister Commerce and Investment and Textile Abdul Razak Dawood has said that the government is pleased to collaborate with the International Trade Centre, Geneva on the ReMIT project in Pakistan, which is a key part of our development partnership with United Kingdom, through the Foreign, Commonwealth & Development Office, UK.