Envoys for improving Pak perception to attract foreign investment

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Our Special Correspondent

Karachi

In order to attract foreign investors, diplomats posted in the metropolis should underscore the need to improve the perception of Pakistan and Karachi possesses massive investment opportunities.
Exchanging views at a Breakfast Meeting hosted by the Karachi Chamber of Commerce and Industry (KCCI) here on Tuesday. They said that the foreign investors from their respective countries were keen to explore investment opportunities in Pakistan but the negative perception, excessive paper-work and red-tapism were hindering Foreign Direct Investment (FDI).
They also advised the business and industrial community of Karachi to focus on diversifying their exports as staying confined mostly to textile exports would not yield the desired results.
Commenting on strong trade ties between Pakistan and United States, Senior Commercial Officer of United States, Steve Knode said the trade ties between the two countries have been improving and today, the trade volume stands at an all-time high. “I have seen a lot of positive things and I will encourage US companies to take benefit of prospective opportunities in Pakistan,” he added.
The United States has changed its global Travel Alert System in which countries around the world have been placed at different levels keeping in view their security situation, he informed, adding, Pakistan was currently at Level 3 whereas some areas in the country were at Level 4 due to security concerns.
“Level 1 means that the country or area is completely safe to travel”, he explained and hoped that Pakistan’s current level improves further in the US Travel Alert System.
Knode also extended full support and cooperation to the KCCI’s delegation visit to the United States this year by facilitating B2B meetings and other meetings with the officials at Department of Commerce and Pakistan Chamber of Commerce USA.
He also invited Karachi Chamber to participate in ‘Select USA Investment Summit’ that is scheduled to be held in the US from 20th June to 22nd, 2018 which would help them in exploring investment opportunities in the US and provide a good platform to explore new business opportunities by interacting with global participants.
Consul General of Switzerland Philippe Crevoisier advised the KCCI to hold maximum interaction with their counterparts in Switzerland in order to improve the existing trade and investment ties between the two countries.
Although potential exists but efforts must be made to improve the perception and image of Pakistan so that the potential could be transformed into a success story, he added.
Consul General of Turkey Tolga Ucak said the business communities of Pakistan and Turkey must seek ways and means of enhancing trade and investment cooperation.
It is time to shift focus from enhancing trade only to encouraging investments as well in both the countries through joint ventures, he added.
Vice Consul of Consulate General of Germany Vogel Ingolf, in his remarks, pointed out that Germany holds many trade and investment exhibitions throughout the year hence, the business and industrial community of Karachi Chamber should attend these exhibitions which would surely bring the business communities more close to each other.
In his remarks, President KCCI Muffasar Atta Malik, while referring to Pakistan’s existing trade ties with US, Germany, Switzerland and Turkey, stressed the need to exchange more trade delegations between the two countries in order to further improve the existing trade relations.