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Sunday, February 19, 2012
Sherry urges US business leaders to invest in PakistanWASHINGTON: Pakistan's Ambassador to the United States Sherry Rehman has urged American investors to benefit from enhanced business opportunities Pakistan offered in several potential areas.
Speaking to members of the US-Pakistan Business Council (USPBC), the envoy cited the example of fast-growing telecommunication sector. She said, “Telecom companies are aggressively bidding for a market of 100 million mobile users and others should follow the suit.” She highlighted the fact that a number of American companies are already successfully doing business in the country and contributing to better economic relations.
"The USPBC can greatly help in dispelling adverse perceptions in the US by relating to their business success stories in Pakistan to their fellow investors, political leaders and opinion makers," she said at the US Chamber of Commerce.
She said, “Islamabad is committed to providing enabling environment and a level-playing field to international investors and has been rated at the top in South Asia for ease in doing business is concerned.” The ambassador said one of the key priorities during her assignment in Washington would remain promoting stronger linkages between the private sectors of the two countries. "The government gives priority to investments in social sectors, programmes that promote justice, development and strengthening of infrastructure, industrialisation, economic reforms and trade facilitation," she added. “Despite the continuing global financial crisis and regional situation, Pakistan last year achieved a 28 percent increase in exports, which were worth $ 25 billion. The positive trends have continued in the last seven months, and other macro-economic indicators are showing hopeful signs. We are working to improve infrastructure and we seek your assistance on energy investment," she added.
Ambassador Sherry also reiterated Pakistan 's interest towards concluding a bilateral investment treaty with the United States.
"A free trade agreement with the US is an important priority for Pakistan. I am sure many people present here are fervent advocates of open market and realise the benefits to be achieved from an FTA between the two countries," she added. Pakistan and the US had a robust trading relationship and the current volume of bilateral trade has doubled to $5.50 billion.
"We firmly believe that the potential for enhancing trade relations between the two countries is far greater than that had been achieved so far," she said.
Welcoming the Pakistani ambassador on behalf of members of the USPBC, Chairman Miles Young said that despite international financial difficulties, the American companies had made substantial profits and continued to prosper. He committed to advancing joint business goals together with the Pakistani embassy while recounting several good news stories on Pakistan's business potential. The meeting was attended by chief executive officers of different companies, including Shell, Procter and Gamble, Northrop Grumman, Harris Corporation, GE Transportation, Global Edison Corporation, MetLife, JE Austin Associates Inc, Coca-Cola Company and Caterpillar Inc. app
Courtesy www.dailytimes.com.pk