Daily Times

The US Department of Commerce on Thursday recognized Pakistan as an important market with the great potential to grow its economy in the near term.

The US has always helped Pakistan overcome challenges and its stability is important for the region, it said.

The Deputy Assistant Secretary for Asia Diane Farrell, Acting Director of Investment Services Helen Hwang, and other officials said this while talking to a delegation led by President FPCCI Ghazanfar Bilour.

They said that trade has become an important tool to forge good relations and they encourage Pakistani investors to explore investment opportunities in the U.S.

US remains the largest export destination for Pakistan and a major source of foreign direct investment while Pakistan remains an attractive market for some US companies due to favorable demographics and a growing middle class, they said.

There are some trade and investment barriers that limit the ability of US companies to enter the market and grow their businesses in Pakistan which should be considered, they added.

The US officials said that the US-Pakistan total trade in goods is up nearly 20 percent since 2013, reaching nearly $6.4 billion in 2017 while US exports to Pakistan are at an all-time high and up some 70 percent over the same period.

The officials of the commerce department welcomed FPCCI to ink agreements with different chambers of commerce and invited Pakistani business community to participate in the “The SelectUSA Investment Summit” from June 10-12, 2019 in Washington D.C., which was accepted.

At the occasion, President FPCCI Ghazanfar Bilour said that US should consider establishing Reconstruction Opportunity Zones (RoZs) in FATA to overcome militancy.

He said that Pakistan’s economy is taking off and we want the US to become an important partner in the journey to growth and development.

The business community of both the countries should play their role to reshape bilateral relations, he said.

Malik Sohail Hussain Chairman Coordination FPCCI said that the bad times for Pakistan are over and good times are coming now at this stage we want the USA not to leave Pakistan rather participate in the mega projects as well small and large Industrial projects.

Trade Minister of Pakistani Embassy in the US Ali Tahir, Vice Presidents FPCCI Karim Aziz Malik and Ch. Shafique Anjum, Chairman Coordination FPCCI Malik Sohail, President Mohmand Chamber Qaiser Khan, President Charsadda Chamber Sikandar Khan, SVP Swat Chamber Akbar Khan, and Arsalan Khokar were also present at the occasion.

Published in Daily Times, September 28^th 2018.