While welcoming and explaining the brief activities of Pak-US business council to the Consul General of US, Mr. Hanif Gohar Vice President FPCCI stated that USA is a good friend which plays a significant role in socio-economic development of Pakistan. He added that USA is the largest trading partner in addition to provide economic and financial assistance to Pakistan. At present, the trade between Pakistan and USA is in favor of Pakistan with Pakistan’s export volume US$ 3.5 billion to USA and import volume US$ 1.7 billion, he stated.
In his statement, Mirza Ishtiaq Baig, Chairman FPCCI Standing Committee on Diplomatic Affairs added that beside trade, Pakistan is very much keen to strengthen the investment relationship with USA and in this context; Pakistan offers various investment opportunities in the areas of power sector, high-tech machinery, infrastructure, engineering, telecommunication, iron and steel, railways, construction etc. He further added that after Zarb-e-Azb and rangers operations and removal of load shedding Pakistan is ideal country for Investment where there is high profitability and rate of return on investment.
During the session, Dr. Mirza Ikhtair Baig Chairman FPCCI Standing Committee on Banking & Finance delivered a presentation on “Signing Bilateral Investment Treaty: a way forward to FTA with USA”, which is under consideration since many years between the governments of both the countries. He also highlighted the salient features of GSP of USA and suggested to include textile and leather in the existing GSP Program.
During the session, Mr. S.M. Muneer Chief Executive TDAP highlighted the issues related to visa and said that several businessmen wished to travel from Pakistan to USA every year for the purpose of meeting business partners, exploring markets, as trade delegates and to participate in exhibitions. The delay in issuing visas hindered their travel schedules, and was the cause of unfortunate inconvenience. He requested the US Consulate to expedite visas for businessmen recommended by FPCCI, which was the national trade body, and therefore could watch for the legitimacy of the recommended individuals.
H.E. Grace Shelton, Consul General of USA informed about her task which includes close trade and investment relations, people to people contact and area of U.S. interest like political stability and social resilience in Pakistan. She disclosed that her Consulate is working in close coordination with the Ministry of Commerce, the Sindh Board of Investment, and the U.S. Pakistan Business Council to organize the Fifth Annual Business Opportunities Conference in 2017 in Pakistan. She added that as Karachi is the hub of economic and commercial activities, so it has decided that the commercial service department of USA embassy headed by Steven Knode would be shifted from Islamabad to Karachi in March 2017 with the mandate to boost commercial ties between both the countries.