Pakistan, Denmark discuss ways to enhance cooperation in trade, investment and energy

• The development comes as Pakistan tries to boost trade and investment to revive its over $400 billion economy after a prolonged meltdown
• Both countries resolve to strengthen commercial linkages, business-to-business engagement and explore new avenues in trade, energy and IT

KARACHI: Commerce Minister Jam Kamal Khan on Saturday held a meeting with the Danish ambassador to Pakistan, Maja Derrous Mortensen, to discuss ways to enhance bilateral trade, investment cooperation and energy-sector collaboration between the two countries, the Pakistani commerce ministry said.

The minister highlighted Pakistan’s ongoing stabilization measures under a $7 billion International Monetary Fund (IMF) IMF program, noting that the country’s foreign reserves are stabilizing and remittances have shown strong growth.

The two sides had an in-depth discussion on Pakistan’s energy sector, particularly the industrial shift toward solar and renewable solutions that has reduced demand on the national grid.

The Danish ambassador briefed the minister on Denmark’s ongoing three-year partnership with Pakistani institutions to support energy planning, data systems, and grid efficiency, according to the commerce ministry.

“The ambassador also shared Danish business interest in Pakistan’s agricultural and IT sectors, noting that some companies remain cautious due to legal and certification constraints,” the ministry said.

“The minister encouraged Danish firms to explore Pakistan’s fast-growing IT talent pool, which produces about 80,000 graduates annually, and offers competitive operating costs.”

The development comes as Pakistan tries to boost trade and foreign investment to revive its over $400 billion economy after a prolonged economic meltdown that forced the country to the brink of a default in 2023.

Khan invited Denmark to participate in upcoming trade exhibitions in Lahore and Karachi, expressing hope that improvements in travel adviseries would enable greater participation.

He also briefed Ambassador Mortensen on Pakistan’s rapidly growing cosmetics and personal care industry, which has recently gained traction in African markets due to competitive pricing and expanding product variety.

“Both sides reaffirmed their commitment to strengthening commercial linkages, supporting business-to-business engagement, and exploring new avenues of cooperation in trade, renewable energy, IT, and market expansion,” the commerce ministry said.