Trade, investment: PAK-USA Business Council of FPCCI sets roadmap for FY25

KARACHI: PAK-USA Business Council of FPCCI has set two-year roadmap to promote the investment, bilateral trade and economic ties between both countries.

The first meeting of the council was chaired by Shaikh Imtiaz Hussain, Chairman of PAK-USA Business Council of FPCCI at Federation House.

The Gwinnett County Government Planning Commissioner and Gwinnett Chamber of Commerce Director Imran Niazi was the invited as special guest of the meeting. During the meeting Senior Vice President FPCCI Saqib Fayaz Magon presented valued suggestions and on behalf of FPCCI he assured full support for the Council.

He also ensured close liaison between the FPCCI Chamber and the Trade Missions of Pakistan abroad to explore new export markets. During the meeting Syed Nasir Wajahat was elected Senior Vice Chairman and Muhammad Jahanzeb Khan as Vice Chairman and new directors were elected of the council tenure 2024-25.

It was decided the PAK-USA Business Council will unlock new avenues and realms of possibilities for both countries businesses. The FPCCI and Gwinnett Chamber will provide opportunities for the Pakistani business community to network on US business activities with their peers.

Imtiaz Hussain Shaikh highlighted that the United States and Pakistan have a strong economic and commercial relationship, with two-way trade reaching approximately $9.15 billion in 2022. The USA is one of Pakistan’s largest trading partners and continues to be one of the country’s leading sources of foreign direct investment. He mentioned that goods imported from the USA reached $3.15 billion, while Pakistan’s goods export to USA stood at $6 billion in FY22.

Imtiaz said that PAK-USA Business Council is paying special attention to promote trade between America and Pakistan. He said that deep commercial, economic and diplomatic relations have been established between the two countries, while many steps are being taken to improve the economy.

He said the visit of American businessmen to Pakistan is a good sign, which will further strengthen the ties between the two countries. There are a number of investment and trade opportunities in Pakistan and foreign investors are also interested in investment, if incentives and opportunities provided to them.

Imtiaz said that Pakistani products are very popular in America, while the export of duty-free goods will also increase foreign exchange reserves because America is one of the major markets for selling Pakistani products.

“We need to explore the potentials products and need to learn how to access new markets by making a Road Map. We need to work on the practically implementation of Road Map by doing Joint Ventures with American Companies and Niazi is ready to help us out in this regard,” he said.

On this occasion, Gwinnett County Government Planning Commissioner and Director of Gwinnett Chamber of Commerce Imran Niazi assured Pak USA Council of his cooperation to strengthen trade relations between the two countries and increase trade volume.

He said the exchange of high trade delegations will also increase the experience. He said America and Pakistan are cooperating with each other in various fields of life, which will not only increase the export and foreign exchange reserves but also stabilize the economy.

Copyright Business Recorder, 2024