Pakistan, US identify opportunities to expand Trade & Investment

Exploring further opportunity to expand trade and investment between Pakistan and United States, Federal Minister for Minister Industries and Production, Hammad Azhar has said that his government is committed to ‘remove all bottlenecks’ hindering the potential.

“We are committed in our resolve to remove all bottlenecks to unleash tremendous potential of investment and trade opportunities in Pakistan,” said Hammad Azhar, Minister Industries and Production at a virtual event ‘Explore Pakistan: Preparing for a post-COVID economy’ arranged by the US-Pakistan Business Council (USPBC), also featuring Ambassador of Pakistan to the US, Asad M.Khan and U.S. Chargé d’affaires Angela Aggeler.

Pakistan envoy to the US, Asad M.Khan was of the view that there is tremendous untapped potential for expanding bilateral trade and investments, “that we all agreed to work together to aggressively explore and facilitate.”

During the meeting, U.S. Chargé d’affaires Angela Aggeler called for further expanding US-Pakistan commerce. The envoy expressed that bilateral trade was valued at $6.6 billion in 2019, and the U.S. remains Pakistan’s largest export market.

"Pakistan is also a growing market for U.S. businesses. Since 2018, U.S. corporations have announced plans for more than $1.5 billion of direct investment in Pakistan,” she said

It was learned that the latest data shows Pakistan’s exports to the United States hit record levels in October ($430 million) and November ($437 million) – meaning U.S.-Pakistan trade is sustaining jobs at a critical time.