US business team visits FPCCI offices: Scope for investment in Pakistan highlighted

LAHORE: A high-profile business delegation from the United States, led by Miles Hansen, President and CEO of World Trade Centre Utah, accompanied by Edward B Rowe, President and CEO of The Stirling Foundation and Avais Ahmed, Vice President of Utah Muslim Civic League visited the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Regional Office Lahore, here on Wednesday aimed at increasing bilateral trade and American investment in Pakistan.

The two sides exchanged views on the current status of bilateral trade and various economic developments and growing interests of businesses to explore new avenues of investment in Pakistan.

After a brief introduction by Regional Chairman FPCCI Muhammad Nadeem Qureshi, he highlighted the enormous opportunities for foreign investors in Pakistan.

Muhammad Nadeem Qureshi said that Pakistan was a land of opportunities and it was the right time to invest in the potential areas, including agriculture, information technology, telecom, pharmaceuticals and financial services. He said that the facts were enough to emphasize the USA’s importance in Pakistan’s economy.

Former President FPCCI Mian Anjum Nisar and Vice President FPCCI Riffat Malik said that easy visa and market access are necessary for business promotion. We should work to create joint working groups for market information and joint seminar, exhibition and exchange of business delegations.

They further said that the highly liberal trade and investment regime in Pakistan offers tremendous opportunities for local and foreign investors. The business community of Pakistan recognises the USA as an essential trading partner of Pakistan. The US, via USAID, is working closely with the Government of Pakistan to streamline its business practices and strengthen the investment climate for foreign investors in Pakistan.

Miles Hansen, Edward B. Rowe and Avais Ahmed underscored the United States commitment to strengthening economic ties between the two countries. The United States is the largest destination for Pakistani exports and is one of the country’s primary sources of foreign direct investment (FDI).

He further said that bringing Pak-US businessmen closer was our top priority. He said that both countries private sectors should have long-term relations. He pledged to make all-out efforts to bridge communication, trade and economic gaps.

All the participants agreed that higher interaction between the business communities of both countries will be very beneficial for increasing the trade and investment both ways. In this respect the FPCCI requested for more timely information sharing regarding investment conferences related to Pakistan, visits of business delegations and other matters so that FPCCI could also facilitate these activities.

Copyright Business Recorder, 2022