Also in the news...
Forex Market is also known as Foreign Exchange Market or Currency Trading Market.
Obtaining a business license in Italy: what you need to know
The UK has introduced a points-based immigration system.
Find out what you need to do to prepare for making declarations on the Customs Declaration Service.
If youíre setting up a new online business, having a user-friendly website and sound SEO strategy thatís tailored to your target market is important. And if youíre targeting British consumers, there are a few SEO boxes you can tick to ensure you rank well on UK-based searches and drive the right traffic back to your website.
Doing business in Pakistan
Pakistan export overview
Pakistan is a developing market with a young and growing population of around 186 million.
About 55 million live in urban areas. Itís estimated that Pakistanís cities generate up to 78% of national Gross Domestic Product (GDP), with Karachi alone contributing about 20%. The growing / aspirational middle class has an appetite for creative, innovative and high quality goods and services.
Over 100 British businesses are currently doing business in Pakistan, including well-known companies such as Standard Chartered, GlaxoSmithkline, Shell, Toni and Guy, Debenhams and Unilever.
Pakistan is ranked 128th by the World Bank in itsEase of Doing Business Index, higher than India and Bangladesh.
Benefits for UK businesses exporting to Pakistan include:
- Common business language
- Location in the middle of Asia making Pakistan a gateway to northern India, Afghanistan, Tajikistan, Kyrgyzstan, Uzbekistan, Kazakhstan and western China
- Similar legal practices
- Familiarity with UK companies and brands
- Growing middle class
Strengths of the Pakistan market include:
- Sixth most populous country with over 50% population under the age of 25
- Strong business and consumer base
- Ninth largest English speaking nation
- Investor friendly
- Home to over 600 foreign companies
- Links with Pakistani migrant communities in the UK
- Educated workforce
- Low production and labour costs