US Business Delegation, FPCCI Discuss Bilateral Trade

A high-profile business delegation from the United States led by Miles Hansen, President and CEO of World Trade Center Utah and Federation of Pakistan Chambers of Commerce and Industry (FPCCI) office-bearers discussed ways and means to increase bilateral trade and American investment in Pakistan, here at FPCCI Regional Office on Wednesday

LAHORE, (UrduPoint / Pakistan Point News - 23rd Nov, 2022 ) :A high-profile business delegation from the United States led by Miles Hansen, President and CEO of World Trade Center Utah and Federation of Pakistan Chambers of Commerce and Industry (FPCCI) office-bearers discussed ways and means to increase bilateral trade and American investment in Pakistan, here at FPCCI Regional Office on Wednesday.

Other members of the visiting US delegation included Edward B. Rowe, President and CEO of The Stirling Foundation and Avais Ahmed, Vice President of Utah Muslim Civic League.

The two sides exchanged views on the current status of bilateral trade and various economic developments and growing interests of businesses to explore new avenues of investment in Pakistan.

After a brief introduction of the FPCCI, the Regional Chairman FPCCI Muhammad Nadeem Qureshi highlighted the enormous opportunities for foreign investors in Pakistan.

Qureshi said that Pakistan was a land of opportunities and it was the right time to invest in the potential areas including agriculture, information technology, telecom, pharmaceuticals and financial services.

He said that facts were enough to emphasize the USA's importance in the economy of Pakistan.

Former FPCCI President Mian Anjum Nisar and Vice President Riffat Malik said that easy visa and market access were necessary for business promotion and stressed the need for creating joint working groups for market information and joint seminar, exhibition and exchange of business delegations.

They added that highly liberal trade and investment regime in Pakistan offered tremendous opportunities for local and foreign investors. The business community of Pakistan recognized the USA as an essential trading partner of Pakistan. The US, via USAID, was working closely with the Government of Pakistan to streamline its business practices and strengthen the investment climate for foreign investors in Pakistan, they added.

Miles Hansen, Edward B. Rowe and Avais Ahmed underscored the United States' commitment to strengthening economic ties between the two countries. The United States was the largest destination for Pakistani exports and one of the country's Primary sources of foreign direct investment (FDI).

Miles Hansen said that bringing Pak-US businessmen closer was their top priority. He said that both countries' private sector should have long-term relations. He pledged to make all-out efforts to bridge communication, trade and economic gaps.

All the participants agreed that higher interaction between the business communities of both the countries would be very beneficial for increasing the trade and investment both ways. In this respect the FPCCI requested for more timely information sharing regarding investment conferences related to Pakistan, visits of business delegations and other matters so that FPCCI could also facilitate these activities.