'US bill to provide easy market access to Pakistani products'

United States is introducing a bill to provide easy access for Pakistani products into US markets, in September 2009, to facilitate local exporters and manufacturers, said Bryne-D Hunt, a principal officer of the American Consulate, while exchanging views with a former Punjab Minister and ex-President of MCCI Khawaja Muhammad Jalal-uddin Roomi, here Tuesday.
This function was also attended by officers of the District administration, including Commissioner Multan Syed Muhammad Ali Gardezi, DCO Khurram Ali Agha. Bryne said that the US administration had asked Pakistan to develop a roadmap based on workable proposals for enhancing bilateral economic relations.
He said that the United States would help Pakistan make these initiatives operational for enhancing trade and economic relations, for the benefit of the people of both countries. In this regard, Pakistan had been advised to ensure frequent visits of business leaders, so that the concerns of local investors were addressed and foreign direct investment from US was enhanced, he added.
He further informed that US authorities had renewed their commitment regarding the establishment of ROZs, and they were of the view that they were perusing the related legislation with US Congressmen and US Senators and the process would be completed in due time.
He further said that the United States was already financially assisting Pakistan for the rehabilitation of IDPs and the development of Southern Punjab, but the new willingness of USA and the G-8 ,which included United States, Japan, Britain, Russia, Germany, France, Italy, Spain, would supplement Pakistan's efforts for the development of Southern Punjab in the long run, providing basic facilities like roads, education, health and employment.
Khawaja Muhammad Jalaluddin Roomi said that there was no capital flight from Pakistan, foreign direct investment, remittances, revenues, foreign exchange reserves, stock market capitalisation were increasing and the country was enjoying the full confidence of the IFI's and foreign investors.
Current political events, in Pakistan, had not impacted Pakistan's economy as major economic indicators had witnessed positive growth, the economic fundamentals were strong, and the country's economy was progressing well to achieve sustained growth in the years to come.
Pakistan had also requested the US authorities to review its decision on the Travel Advisory on Pakistan and it was informed that this had been a major obstacle in enhancing trade and investment relations between the two countries. Roomi emphasised on the enhancement of Pak-US economic relations and the significant development of US contributions in the development of Pakistan.
If India was given access to Afghanistan through Wagah, their goods would enter Pakistani markets through smuggling by this TTA. Besides this, India would get easy access to the Central Asian States, through Afghanistan, whereas Pakistan was presently denied this facility through the TTA with Afghanistan, he added.