Chief of the Economic Unit at US Consulate General, Chad Miner has sought KCCI's input on current economic environment in Pakistan.
"The US government is profoundly interested in expanding trade and investment ties between United States and Pakistan," he said, speaking at a meeting of Karachi Chamber of Commerce and Industry (KCCI), here.
He said he wants to acquaint KCCI and related business community about United States' businesses' interest in investing in numerous sectors of Pakistan's economy.
KCCI president Junaid Esmail Makda called for Free Trade Agreement (FTA) between Pakistan and USA in order to pave way for enhanced trade and investment between the two countries. He further underscored that it was high time that Pakistan should make the best use of the Generalized Systems of Preferences (GSP) opportunity keeping in view the withdrawal of GSP facility to India and Turkey.
"Under GSP, approximately 3,500 Pakistani products have been granted duty-free access to United States but the textile sector was not falling under it. That may also be added as it will result in taking the existing trade volume to new heights," he suggested.
Makda said Prime Minister Imran Khan is scheduled to visit US soon hence the latter should also request the concerned US authorities to add Pakistani textiles to the GSP list.
He also appreciated the USAID support to Pakistan in education and health sectors, gender equality and women empowerment. He said that CPEC was a good opportunity for many US companies and it was really heartening to see that companies such as Exxon and Texaco have invested in Pakistan in oil exploration projects.
KCCI president said that present government intended to create an enabling environment by taking various measures particularly the steps to ensure ease of doing business which would also be beneficial for foreign investors intending to set up their business or undertake joint ventures in Pakistan.
"There are lots of investment opportunities in Pakistan for US investors who can either establish their business units here or undertake joint ventures in collaboration with their Pakistani counterparts," he said
KCCI vice president Asif Sheikh Javaid, former KCCI president Majyd Aziz, Commercial Specialist at US Consulate Tashfeen Mehdi and Economic Specialist Mehreen Kashif and KCCI managing committee members also attended the meeting.
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