Pak US Business Council welcomes Trump statement for enhancing trade with Pakistan

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SLAMABAD Pak-US Business Council Founder Chairman Iftikhar Ali Malik Saturday welcomed US President Donald Trump’s statement for enhancing trade volume with Pakistan during his meeting with Prime Minister Imran Khan on the sidelines of the World Economic Forum in Davos. He expressed these views while talking to a delegation of traders and investors here today,” says a press release issued here today. He said the perception of Pakistan under the dynamic leadership of Prime Minister Imran Khan is improving in the international market as US firms and investors are looking forward for joint ventures and investment in Pakistan. He said this is good omen for Pakistan that President Donald Trump was “extremely enthusiastic about the potential for increasing and expanding our USPakistan trade and investment relationship. He further said Pakistan needs to chalk out comprehensive strategies to take full advantage of planned visits of 15 US trade delegations expecting to visit Pakistan this current year to explore possibilities for expanding trade with the country. Iftikhar Malik said the situation has changed remarkably after Pakistan’s getting 28 slots on the World Bank’s 2020 Ease of Doing Business ranking and being highlighted as one of the top ten reformers globally. He further said after effective measures taken by the incumbent government to reinstate law and order and curbing money laundering, the business environment of Pakistan has gotten far better. Identifying areas, he said there was potential in agriculture, livestock, and food processing and seafood sectors for US companies. He said CPEC has created plenty of opportunities for joint ventures and investment in Pakistan and it was the right time for US investors to visit Pakistan and grab these opportunities for developing sustainable business partnerships with Pakistani counterparts. He urged the local traders and investors to chalk out plans to take American investors to Special Economic Zones especially Allama Iqbal Industrial City of FIEDMC under CPEC. He was of opinion that Pakistani pharmaceutical companies were mostly importing raw material to produce medicines and stressed that US investors should try to set up raw material producing plants in Allama Iqbal Industrial City as this business has immense scope in Pakistan. Besides this, he further said all industries within the export processing zone will be exempted from tax for a period of 10 years and plants, machinery, raw material and other equipment will be imported duty-free. Iftikhar Malik said there is dire need of encouraging international best practices to develop Pakistan’s technology sector, and enable the introduction of the latest technologies into the market. Reiterating his earlier stance, he said Pak-US Business Council is ready to play its role for enhancing cooperation with key organizations in both countries to ensure cohesive and coordinated strategies in promoting US private sector interests in Pakistan.—APP