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Pakistan emerging from serious economic challenges: US envoy

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Abdul Hadi Mayar
Islamabad

Natalie A Baker, Chargé d’Affaires of the US embassy in Islamabad, on Monday said Pakistan was emerging from serious economic challenges and ‘is looking to undertake difficult but desperately needed economic reforms.’

Addressing the Fifth Pakistan-America Business Forum Summit in Islamabad, the envoy said, “the United States will support Pakistan through this transition.”

“We believe that unlocking the potential of the private sector is pivotal to that effort and this includes the Pakistani business community abroad.”

Baker said, “We envision more Pakistani-American investment and trade with Pakistan. It is a natural role for you to play in securing a more prosperous future for all Pakistanis.”

“Pakistan looks to move beyond the economic crisis and implement difficult but necessary structural economic reforms to realize a more prosperous future,” she elaborated.

The US envoy said the United States was Pakistan’s indispensable partner in this endeavor, adding that ‘our economic partnership has been a cornerstone’

“The United States remains Pakistan’s best trading partner. Let me tell you why. The United States is Pakistan’s largest export market globally – Pakistan sends around 16 percent of its total exports to the United States each year.”

She said Pakistan’s exports to the United States had grown substantially over the last decade. This is a testament to the robust economic relationship we share.

“US investors have contributed enormously to Pakistan’s economic development. Right now, over 80 US firms directly employ 120,000 Pakistanis and indirectly support the livelihoods of over a million Pakistani workers,” he added.

Baker said, “These companies bring American values of openness, transparency, and responsible corporate citizenship. These businesses also drive critical research and development and provide new opportunities to local communities.”

 

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