PM's US visit to set new dimensions for mutual diplomatic, trade & economic ties

LAHORE: Lahore Chamber of Commerce & Industry (LCCI) on Tuesday welcomed the Prime Minister Imran Khan's meaningful meeting with the US President in Washington and hoped that his visit would set new dimensions for mutual diplomatic, trade & economic relations.

LCCI President Almas Hyder said that successful visit of the Prime Minister to United States would not only transmit a good message to the outer world but was also a good sign for Pakistan's economy.

He mentioned that United States was the largest export destination for Pakistani goods with a contribution of over 16 per cent in Pakistan's exports.

"Outcomes of the visit show that relations between the two countries would definitely grow but these should also be translated into trade & economic cooperation as both countries have the potential to grow mutual trade to $ 10 billions," he added.

Almas Hyder said that business community wanted the United States to consider allowing duty-free access to Pakistani merchandise. He said that aid or grant was undoubtedly a remedy but had never been a substitute to trade.

He said that United States would be achieving two goals through this gesture. First, it would be winning the hearts of Pakistanis and secondly, the United States would be able to fulfill the promise of economic revival of Pakistan.

The LCCI President said that there was vast scope for US investors to make investment in several sectors including power, textile, auto, health, education, food, livestock and dairy etc.

He said that US administration must convince the potential investors to put their money in joint ventures with Pakistanis besides ensuring transfer of latest technology to Pakistan.

The LCCI Senior Vice President Khawaja Shahzad Nasir said that government should now focus to encourage the private sector of Pakistan and extend all kinds of support so that it could play a pivotal role in boosting country's exports.