The Pakistani companies and entrepreneurs should regularly participate in the trade fairs in USA to explore business match-makings and trade promotion opportunities between US and Pakistan while US Embassy will facilitate them in such pursuits.
This was said by Michael Boven, Economic Officer (Trade and Investment), US Embassy in Islamabad during an interaction with business community at Islamabad Chamber of Commerce and Industry. Nasir Hamid Rao, Economist, US Embassy was also present at the occasion.
Michael Boven hoped that the recent visit of Prime Minister Imran Khan to USA and meeting with US President Donald Trump would ease things and help in improving bilateral trade and economic relations between the two countries. He said that US could provide subject experts to Pakistan to improve the productivity of Pakistani companies.
He said ICCI should collaborate with American Business Council of Pakistan to enhance connectivity between private sectors of both countries. He said that US Commercial Section wanted to create win-win opportunities for the private sectors of both countries and desired that ICCI should cooperate in such efforts.
Speaking at the occasion, Ahmed Hassan Moughal, President ICCI said that Pakistan was more interested in trade with US instead of aid and urged the US for providing preferential access to Pakistan products to its market. He said that many Special Economic Zones would be set up in Pakistan under CPEC and US companies should explore JVs and investment in these SEZs with technology transfer to Pakistan.
He said that US technology could help Pakistani private sector in value addition of products and increasing exports. He said Pakistan had a big pool of young IT professionals and US companies should focus on importing quality software products from Pakistan at competitive prices. Rafat Farid, Senior Vice President ICCI said that Pakistan was a lucrative market for foreign investors and both countries should facilitate enhanced interaction between their private sectors to explore all untapped areas of mutual cooperation.
He said misperception about Pakistan was major barrier for US investors and urged the US Embassy for playing role in removing this wrong perception by presenting true potential of Pakistan market to them. He identified energy, oil & gas, housing, hospitality, automobile, gypsum and others as potential sectors for US investors in Pakistan and assured that ICCI would cooperate in connecting US investors with right partners in Pakistan.