Amb Sheikh Spotlights Investment Opportunities in Pakistan with New York-Based Professionals & Business Leaders
By Elaine Pasquini
New York: Rizwan Saeed Sheikh, Ambassador of Pakistan to the United States, discussed initiatives aimed at enhancing bilateral trade and investment between Pakistan and New York with Mark Jaffe, president and CEO of the Greater New York Chamber of Commerce, on November 15, 2024.
Expressing interest in Pakistan’s textile, leather, surgical and IT sectors, he outlined the Chamber’s efforts to promote trade and investment between New York and Pakistan. Jaffe also stressed his commitment to disseminating information about Pakistan’s upcoming trade events to the Chamber’s extensive network.
Ambassador Sheikh voiced his appreciation to the Chamber for their collaboration with the Consulate General of Pakistan in New York and thanked Jaffe for his support and interest in Pakistan’s recent fifth International Textile and Leather Exhibition (TEXPO) 2024 held in Karachi last month.
He also invited the Chamber to participate in the upcoming fourth Engineering & Healthcare Show scheduled to take place in Lahore in April 2025.
During the meeting, Ambassador Sheikh highlighted the benefits provided by Pakistan’s Special Investment Facilitation Council (SIFC), along with the country’s liberal investment regime and strategic geographic location.
Emphasizing incentives especially for foreign investors and New York businesses seeking to expand their footprint in South and Central Asia, the ambassador noted Pakistan’s liberal investment policies, its strategic geographic position as a gateway to South and Central Asia and the advantages of its Generalized System of Preferences Plus (GSP+) status in the European Union and Free Trade Agreement (FTA) with China. The ambassador encouraged New York-based businesses to explore Pakistan as a strategic base for expanding operations in the region.
The meeting concluded with a shared resolve to strengthen collaboration between the Chamber and the Consulate in order to further promote trade ties between New York and Pakistan.
While in New York, the ambassador also held an interactive meeting at the Pakistan Consulate with the city’s investment bankers, IT professionals and business leaders.
Trade & Investment Counsellor Adnan Mahmood Awan, who also attended the meeting along with Pakistan Consul General Aamir Ahmed Atozai, briefed the participants on lucrative investment opportunities in Pakistan, covering key sectors, including IT, agriculture, mining and tourism. He highlighted the numerous incentives offered by the Pakistan government to attract foreign investment.
Ambassador Sheikh emphasized Pakistan’s commitment to fostering a business-friendly environment, underscoring the pivotal role of the SIFC in facilitating foreign businesses and entrepreneurs to invest in Pakistan.
During the interactive session, participants expressed strong interest in exploring investment opportunities in Pakistan while highlighting challenges faced in their business dealings. The ambassador assured them of dedicated support from the Embassy and Consulate, offering to facilitate connections with relevant partners and stakeholders in Pakistan. The group also discussed initiatives that focused on increasing New York-Pakistan bilateral trade and investment.
The discussions wrapped up with a mutual commitment to make such interactions a regular feature to strengthen economic ties and collaboration between the United States and Pakistan.
Later in the day, Ambassador Sheikh met with Pakistani-origin students from various educational institutions in the area during a program hosted by Consul General Amir Ahmed Atozai.
The ambassador underscored the vital role of youth in strengthening Pakistan’s future and its diaspora’s contribution to fostering positive relations between Pakistan and the United States. He encouraged the students to excel in their academic pursuits, remain connected to their cultural heritage and actively engage in initiatives that uplift Pakistan’s global image.
The young people enthusiastically shared their academic experiences and perspectives on how to enhance collaboration between Pakistani institutions and international universities. The discussions reflected the vibrant potential of the Pakistani-American youth and their aspirations for contributing to Pakistan’s socio-economic development.
Consul General Atozai reiterated the Consulate’s commitment to supporting the diaspora, particularly the younger generation, in achieving their academic and professional goals.
The event ended with a collective resolve to strengthen the role of the Pakistani diaspora in fostering people-to-people ties and promoting Pakistan’s soft power on the global stage.
(Elaine Pasquini is a freelance journalist. Her reports appear in the Washington Report on Middle East Affairs and Nuze.Ink.)
