Pakistan has reiterated its commitment to international intellectual property standards and a predictable business environment for foreign investors, as Italian and Danish envoys raised concerns regarding proposed amendments to the country”s IP framework, particularly affecting the pharmaceutical sector. This assurance came during a high-level meeting in Islamabad focused on bolstering trade and investment cooperation.
Italian Ambassador Marelena Ermelin and Danish Ambassador Maja Mortensen met with Federal Minister for Commerce Jam Kamal Khan at his office today to explore ways to increase bilateral trade, foreign direct investment, and broader economic cooperation.
During the discussions, Minister Khan underscored Pakistan”s role as a responsible global actor, highlighting its efforts to foster dialogue and de-escalation amidst geopolitical tensions. He observed that recent global events, including impediments to crucial maritime routes such as the Strait of Hormuz, have significantly disrupted worldwide supply chains for essential goods like energy, food, medicines, and industrial inputs. These challenges, he asserted, underscore the critical need for diversified trade partnerships and robust supply systems.
The Minister highlighted Pakistan”s substantial economic potential, citing its consumer base exceeding 250 million people, abundant natural resources, and strategic geographical placement. He remarked that improved per capita income could position Pakistan as a major import and consumption hub, thus generating considerable opportunities for overseas investors. Both ambassadors acknowledged these prospects and expressed keen interest in expanding engagement, particularly within non-traditional sectors.
A detailed discussion ensued regarding Pakistan”s ongoing tariff reforms under the National Tariff Policy, a five-year initiative designed to progressively lower tariffs to stimulate export-led growth and improve market competitiveness. Minister Khan emphasised that Pakistan stands among the few nations currently pursuing gradual tariff reduction, contrasting with many countries that are raising tariffs due to prevailing global economic uncertainties and protectionist trends. He noted that tariffs have already been adjusted downwards in several sectors and are slated for further reductions, ensuring a balanced approach that safeguards domestic industry while facilitating the import of high-quality inputs. Specific issues pertaining to tariff classification, particularly in the milk industry, were also addressed, with the Minister assuring a willingness to review proposals, including the potential creation of new HS codes where necessary.
The conversation also centred on the transformation of Pakistan”s dairy sector, which holds immense unexploited capacity. The Danish delegation highlighted innovative projects aimed at minimising waste, particularly whey byproducts, by converting them into value-added products like protein drinks and bars. Minister Khan welcomed such initiatives, stressing the importance of knowledge exchange, capital injection, and capacity building to modernise the industry. He projected that with adequate support, Pakistan could significantly enhance productivity and evolve towards a more formalised and efficient dairy industry.
The dialogue also scrutinised Pakistan’s investment climate and intellectual property protection. The visiting ambassadors articulated apprehension regarding proposed alterations to the intellectual property framework, especially within the pharmaceutical industry. Minister Khan affirmed the nation”s adherence to global IP benchmarks, pledging that no policy adjustment would erode investor confidence. He underscored the government”s resolve to fortify enforcement mechanisms and cultivate a stable, business-friendly ecosystem for international capital.
Minister Khan further highlighted burgeoning export prospects, notably in the livestock and meat sectors, where Pakistan has observed increased demand from regional markets due to supply disruptions. He stressed the imperative to strengthen the formal sector, elevate quality standards, and enhance export readiness to fully capitalise on these opportunities.
The meeting concluded with both sides reaffirming their dedication to deepening economic collaboration, promoting commercial exchange and investment, and facilitating stronger linkages between the business communities of Pakistan, Italy, and Denmark.