Daily Times

KARACHI: Karachi-based diplomats have underscored the need to improve the perception about Pakistan in order to attract maximum number of foreign investors who will certainly be interested in massive investment opportunities available in Pakistan, particularly Karachi.

Exchanging views at a Breakfast Meeting hosted by Karachi Chamber at a local hotel, they added that Foreign Investors from their respective countries were keen to explore investment opportunities in Pakistan but the negative perception, excessive paper-work and bureaucracy were hindering FDI in the country. They also advised the business and industrial community of Karachi to focus on diversifying their exports as staying confined mostly to textile exports would not yield the desired results.

Senior Commercial Officer of United States Steve Knode, Consul General of Switzerland Philippe Crevoisier, Consul General of Turkey Tolga Ucak, Vice Consul of Consulate General of Germany Ingolf Vogel, Commercial Attaché of Turkish Consulate Murat Mustu, President KCCI Muffasar Atta Malik, Senior Vice President Abdul Basit Abdul Razzak, Vice President Rehan Hanif, Chairman of Diplomatic Missions & Embassies Liaison Sub-Committee Sohail Amin, Chairman Special Committee for My Karachi Exhibition Muhammad Idrees, Former Presidents Haroon Agar & Iftikhar Vohra along with Managing Committee members attended the breakfast meeting.

Senior Commercial Officer of United States Steve Knode, while commenting on strong trade ties between Pakistan and the United States, said that the trade ties between the two countries have been improving and today, the trade volume stands at an all-time high. “I have seen lot of positive things and I will encourage US companies to take benefit of prospective opportunities in Pakistan”, he added.

He informed that the United States has changed its global Travel Alert System in which countries around the world have been placed at different levels keeping in view their security situation. Pakistan was currently at Level 3 whereas some areas in the country were at Level 4 due to security concerns. “Level 1 means that the country or area is completely safe to travel”, he explained and hoped that Pakistan’s current level improves further in the US Travel Alert System.

Knode also extended full support and cooperation to KCCI’s delegation visit to United States this year by facilitating B2B meetings and other meetings with the officials at Department of Commerce and Pakistan Chamber of Commerce USA.

He also invited Karachi Chamber to participate in Select USA Investment Summit that is scheduled to be held in the US from 20th June to 22nd, 2018 which would help them in exploring investment opportunities in United States and provide a good platform to explore new business opportunities by interacting with global participants.

Consul General of Switzerland Philippe Crevoisier advised KCCI to hold maximum interaction with their counterparts in Switzerland in order to improve the existing trade and investment ties between the two countries.

Although potential exists but efforts must be made to improve the perception and image of Pakistan so that the potential could be transformed into a success story, he added.

Consul General of Turkey Tolga Ucak said that the business communities of Pakistan and Turkey must seek ways and means of enhancing trade and investment cooperation.

It is time to shift focus from enhancing trade only to encouraging investments as well in both the countries through joint ventures, he added.

Published in Daily Times, February  14^th 2018.