Pak-US Business Association (PABA) delegation have termed Pakistan business environment conducive for investment and assured their full support in active participation in various joint ventures.
A seventy Pak-US Business Association (PABA) delegation left here for Washington after a successful business visit with signing of a Memorandum of Understanding (MoUs) and trade agreements with various private sector, Hanif Akhtar President PABA told APP here on Sunday.
He said, PABA is a not-profit organisation in the development of business opportunities for Pakistan and Americans to create a mutually beneficial business atmosphere between USA and Pakistan.
Replying to a question about his visit to Pakistan, President PABA said that it was to educate, train and finance Pakistan American businessmen to start their business in USA and to promote these trade links with Pakistan for the benefit of the people of the two countries.
Talking about the composition of the delegation, he said that it included thirty Americans and forty Pakistani-American businessmen.
PABA, Hanif said also strives to provide and guide in all facets of business activities to its members and special business services to the business community of the two countries.
Manif Akhtar who is one of the most talented and nationally organised business and civic leaders in Pakistani Amer Kan community.
He is also the member President's of US National Hire Veterans Committee.
During the visit of PABA delegation besides signing of about ten MoUs also met the leadership of Pakistan and discussed with them the possibilities and opportunities of investment in Pakistan.
The delegation was warmly welcomed by the Pakistan's trade and business community and assured them that their investment would be fully secured and protected in Pakistan and they can take optimum benefits of the investment friendly policies and conducive business environment being offered to both domestic and foreign investors.
Hanif said that as an orientation and fact-finding mission, the delegation has reached to the conclusion that the investment climate in Pakistan is becoming friendly due to prudent economic policies and its continuity by the present government.
Hanif strongly criticised the freezing of Foreign Currency Accounts in 1998, which, he said shattered the confidence of the foreign investors specially the overseas Pakistanis.
The president of the association expressed the hope that the materialisation of the MoUs, especially the signing of oil refinery and textile units in Pakistan.
Hanif was hopeful, that their delegation's visit would provide pavement of a number of joint ventures between Pak-US business association and the local counter-parts including the Chambers of Commerce and Industries.
During their visit, Hanif said that the sub-groups of the delegation also visited Sialkot, Wazirabad, Lahore and Gujranwala Chambers of Commerce and Industries, exploring avenues of trade and joint ventures.
He further told that besides the oil and gas and the textile sectors, the Pak-US business delegation has been focusing on the areas of investment namely the Information Technology and Small and Medium Enterprises (SMEs).
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