Daily Times

The head of Greater New York Chamber of Commerce, Mark Jaffe, Friday expressed strong interest in Pakistan’s textile, leather, surgical, and IT sectors in a meeting with Pakistani Ambassador to the US, Rizwan Saeed Sheikh, at which they discussed initiatives aimed at boosting New York-Pakistan bilateral trade and investment, according to an embassy press release.

Jaffee, who is president and Chief executive officer of the Chamber, also outlined efforts to promote trade and investment between New York and Pakistan and assured his commitment to disseminating information about Pakistan’s upcoming trade events to the Chamber’s extensive network.

On his part, Ambassador Sheikh expressed appreciation for the Chamber’s ongoing collaboration with the Consulate General of Pakistan in New York and thanked Jaffe for his support and interest in Pakistan’s recent 5th International Textile and Leather Exhibition (TEXPO) 2024, held in Karachi last month.

He also invited the Chamber to participate in the upcoming 4th Engineering & Healthcare Show scheduled to take place in Lahore in April 2025. During the meeting, the Ambassador highlighted the pivotal role of Pakistan’s Special Investment Facilitation Council (SIFC) in fostering investment opportunities across multiple sectors.

The Pakistani envoy underscored Pakistan’s liberal investment regime, strategic geographic location, and incentives for foreign investors, emphasizing the benefits for New York businesses seeking to expand their footprint in South and Central Asia. He noted that Pakistan’s Generalized System of Preferences Plus (GSP+) status in the EU and Free Trade Agreement (FTA) with China provide added advantages for investors.

“Both sides concluded the meeting with a shared resolve to strengthen collaboration between the Chamber and the Consulate, aiming to further promote trade ties between New York and Pakistan,” the press release added.

Ambassador Sheikh also held an interactive meeting with New York-based investment bankers, IT professionals, and business leaders at the Consulate General of Pakistan in New York, it said.

The Consul General, Aamir Ahmed Atozai, and Trade & Investment Counsellor, Adnan Mahmood Awan, were also present.

The Ambassador underscored Pakistan’s commitment to fostering a business-friendly environment, SIFC’s key role in promoting investment, briefed them on Pakistan’s investment policies and encouraged New York-based businesses to explore Pakistan as a strategic base for expanding operations in the region. During the interactive session, participants expressed strong interest in exploring investment opportunities in Pakistan while highlighting challenges faced in their business dealings, the press release said.

Ambassador assured them of dedicated support from the Embassy and Consulate, offering to facilitate connections with relevant partners and stakeholders in Pakistan.

At the outset, Trade & Investment Counsellor briefed the participants on investment opportunities in Pakistan, covering key sectors including IT, agriculture, mining, and tourism. He highlighted the numerous incentives offered by the Government of Pakistan to attract foreign investment.

Later, Ambassador Sheikh held an engaging interaction with Pakistani-origin students from various educational institutions in New York during a meeting hosted at the Consulate.

He underscored the vital role of youth in strengthening Pakistan’s future and its diaspora’s contribution to fostering positive relations between Pakistan and the United States. He encouraged the students to excel in their academic pursuits, remain connected to their cultural heritage, and actively engage in initiatives that uplift Pakistan’s global image. During the meeting, students shared their academic experiences and perspectives on how to enhance collaboration between Pakistani institutions and international universities. The discussions reflected the vibrant potential of the Pakistani-American youth and their aspirations for contributing to Pakistan’s socio-economic development, the press release said.

Consul General Atozai was also present on the occasion and reiterated the Consulate’s commitment to supporting the diaspora, particularly the younger generation, in achieving their academic and professional goals. The event concluded with a collective resolve to strengthen the role of the Pakistani diaspora in fostering people-to-people ties and promoting Pakistan’s soft power on the global stage, it added.