The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) hosted the inaugural meeting of the Pakistan USA Business Council (Pak-USBC) 2024-25. Top business figures from Pakistan and the United States convened to outline a roadmap aimed at enhancing trade and investment between the two nations while fostering bilateral economic ties.
Chairing the meeting was ShaikhImtiazHussain, Chairman of FPCCI USA-PAK Business Council, with distinguished guests including Imran Niazi, the Gwinnett County Government Planning Commissioner, and Director of Gwinnett Chamber of Commerce. Senior Vice President of FPCCI, SaqibFayazMagon, also provided valuable insights, affirming FPCCI’s unwavering support for the council and commitment to facilitating close collaboration between FPCCI and Pakistan’s Trade Missions abroad. During the session, Syed NasirWajahat was elected Senior Vice Chairman and Muhammad Jahanzeb Khan as Vice Chairman, with new directors appointed for the council’s tenure 2024-25. Speaking at the event, Chairman ShaikhImtiazHussain underscored the significance of bolstering trade between the U.S. and Pakistan.
He highlighted the robust economic and diplomatic relations between the two countries, emphasizing the need for concerted efforts to enhance the economy. Chairman ImtiazHussain emphasized the positive implications of American businessmen visiting Pakistan, anticipating strengthened ties.
He emphasized the need for incentives and opportunities to attract foreign investors to Pakistan, envisioning both industrial growth and increased exports.
Furthermore, ImtiazHussain pointed out the untapped potential for Pakistani products in the American market, advocating for an increase in duty-free exports to bolster foreign exchange reserves. Chairman ImtiazHussain also highlighted the disparity between Pakistan’s exports to the USA and the potential market size, stressing the need to set ambitious export targets and explore new market avenues. He emphasized the importance of practical implementation through joint ventures with American companies. Imran Niazi, the Chief Guest, assured Chairman ShaikhImtiazHussain of his full cooperation in strengthening trade relations between the two countries and boosting trade volume. He emphasized the mutual efforts of businessmen and industrialists from both nations to augment joint trade, highlighting the importance of high-level trade delegations in enhancing experience and cooperation.
Niazi underscored the broader cooperation between the U.S. and Pakistan across various fields, envisioning economic stability and increased foreign exchange reserves as a result.
