There’s a nice potential for stronger financial and commerce ties between United States and Pakistan and each international locations can play important function to additional improve bilateral commerce in future.
These views have been expressed by the united statesConsul Common Zachary Harkenrider whereas addressing a gathering on the Lahore Chamber of Commerce & Business on Friday. LCCI President Ijaz A. Mumtaz, Senior Vice President Mian Nauman Kabir and Vice President Syed Mahmood Ghaznavi additionally spoke on the event.
The US diplomat stated that a big a part of US help to Pakistan is concentrated on power as it’s alive to the difficulty. He stated that the US authorities is dedicated to assist clear up the financial challenges being confronted by Pakistan.
He stated that it’s a glad signal that the non-public sector in Pakistan is doing nicely regardless of a lot of challenges. Talking on the event, the LCCI President Ijaz A. Mumtaz stated that US Consulate was taking part in commendable function in creating working relations with varied segments of the society generally and enterprise group specifically.
Ijaz A. Mumtaz urged the US Consulate to start out the visa processing facility at US Consulate Lahore Workplace as Lahore based mostly enterprise group has to go to Islamabad for acquiring visa from US Embassy whereas US Consulate Karachi is processing visas.
He stated that USA has been an important buying and selling accomplice of Pakistan since many years. Relating to prime exporting and importing international locations; the USA comes at 1st and eighth locations respectively. He stated that Pakistan exported to the tune of US$ 3.75 billion and imported items value US$ 1.67 billion from USA in 2013.
The LCCI President stated that there are only a few international locations in opposition to whom Pakistan experiences beneficial stability of commerce. USA tops this checklist with a complete value of US$ 2.1 billion.
He stated that contemplating the function, Pakistan has been taking part in for USA in varied fields; Pakistan enterprise group anticipate to have better entry to US market.
Ijaz A. Mumtaz stated that Enterprise to Enterprise contacts maintain key to use
the untapped potential of commerce. For that matter, frequent change of commerce delegations was essential.
He stated that final yr, a commerce delegation from Lahore Chamber visited US and the delegates had profitable conferences with their American counterparts. He stated that visits of delegations from US to Pakistan on reciprocal foundation may play vital function to extend the mutual commerce.
The LCCI President stated that Pakistan is at present dealing with challenges in retaining FDI in addition to attracting new traders to focus Pakistan for investments. He urged the US Consulate to play a optimistic function to advertise funding in Pakistan.
He stated that the function of USAID in Pakistan is considerable and it can be taken as a mannequin by the US based mostly traders.Switch of expertise is one other approach to enhance the present scenario. The interplay of Chambers of Commerce & Business of the 2 international locations could be instrumental on this connection.