Inclusive economic growth, trade and investment high priorities for US: Blome

ISLAMABAD: United States Ambassador to Pakistan, Donald Blome Saturday said that promoting inclusive economic growth and increasing trade and investment between Pakistan and the US is one of the top priorities of the US government.

The ambassador was speaking at the opening ceremony of the US Embassy’s sponsored “US-Pakistan Innovation Expo”, organized to showcase the success stories of the US government-sponsored Pakistani startups and to encourage further investment in them.

The expo provides a platform for established startups to showcase their business ideas and prototypes, and network with potential US and Pakistani venture capitalists and investors.

In his opening remarks at the event, Ambassador Blome stated that one of the top priorities of the US government is promoting inclusive economic growth and increasing trade and investment between the United States and Pakistan.

He said that the United States is already Pakistan’s largest export market. “Every year we are seeing more and more US investment come to Pakistan – but there is still room to grow and entrepreneurs like you are central to that effort,” he added.

He stated that Pakistan is a country with immense potential, but it needs innovation and technology to take it to the next level. Since 2012, he added that the US Embassy has funded over 181 entrepreneurship-related projects valued at $14.7 million dollars.

Senior Advisor for the Asia Foundation Pakistan, Haris Qayyum, expressed appreciation for the ongoing collaboration with the US Embassy and National Incubation Center to highlight success of Pakistani startups.

He further stated the US-Pakistan Innovation Expo is an endorsement of Pakistan’s dynamic tech entrepreneurs. It exemplifies Pakistan-U.S. bilateral trade, foreign direct investment, and technological innovation.

He said that the Asia Foundation is committed to the collaborative efforts supporting Pakistan’s tech ecosystem and it will continue.

The Expo featured a speaker session for venture capitalists and angel investors led by an American expert.

Business leaders and investors from Pakistan, the Middle East, and the United States attended the event and discussed the opportunities and challenges in the Pakistani startup ecosystem.

Project Director at the National Incubation Center, Parvez Abbasi said that he was thrilled to see the US-Pakistan Innovation Expo come to fruition.

He said that the event is a demonstration of the power of collaboration between Pakistan and the US as well as the endless possibilities that arise when the two nations combine their talents and resources.

“I am grateful to all the participants and organizers who have made this expo a success and look forward to seeing the incredible innovations that will emerge from this partnership,” he added.

The delegates at the Expo showed great enthusiasm for the event and expressed confidence that it would encourage further investment opportunities and potential trade partnerships between the United States and Pakistan. They expressed their desire to see more initiatives like this in the future that support and grow Pakistan’s startup ecosystem.

Copyright Business Recorder, 2023