United States to support Pakistan’s Economy by promoting trade: Munter – US should give better market access to Pakistani Products-Asad Farid

Islamabad, June 20, 2012 (PPI-OT): U.S. Ambassador to Pakistan, H.E.Mr.Cameron Munter visited Islamabad Chamber of Commerce and Industry (ICCI) to voice his support for the leadership of the private sector in driving economic growth in Pakistan. Mr.Asad Farid, Acting President and Executive Members of the Chamber welcomed the US Ambassador whereas the Secretary Commerce, Mr.Zafar Mahmood was also present on the occasion.

Ambassador Munter said that the United States is partnering with Pakistan to foster economic growth and increase trade between the U.S. and Pakistan because we both believe that a strong business sector is the foundation of a sustainable Pakistan. To show that Pakistan is open for business, the private sector must push for regulatory reforms that are needed to foster greater trade and investment opportunities, he added.

US Ambassador said that the United States is committed to working closely with Pakistani partners to conclude a Bilateral Investment Treaty, which will benefit both our countries by advancing trade between Pakistan and the United States.

In his welcome address, Asad Farid, Acting President ICCI lauded the devoted efforts of H.E.Mr.Cameron Munter for playing a dynamic role for improving bilateral relations in all areas between Pakistan and USA.

He thanked the Ambassador for the Embassy’s assistance in partnering with the Young Entrepreneurs Forum of the ICCI to organize Pakistan’s first ever Young Entrepreneurs Conference in March. He hoped that the two organizations could work together on future activities aimed at developing the next generation of entrepreneurs and business leaders in Pakistan.

He said that business community of Pakistan attached great importance to trade relations with the United States. Asad Farid said that in 2011 bilateral trade between the two countries was around US$ 5.77 billion, asserting that there was dire need for concerted efforts on both sides to improve trade.

ICCI Acting President stressed that the US should support Pakistan by providing more market access, discounted import tariff, investment, technology transfer, help in improving health and education facilities, skills training, scientific research and infrastructure development.

Asad Farid was of the view that Pakistan has great potential and good prospects for foreign investors in different sectors of its economy. He said that the US could also help Pakistan in overcoming energy crisis by making investment in power projects and technology transfer. He further said that US should also identify investment opportunities in US market to extend support to Pakistani investors.

For more information, contact:
Islamabad Chamber of Commerce and Industry
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1,
Islamabad, Pakistan
Tel: +9251 225 0526 and 225 3145
Fax: +9251 225 2950
Email: icci@brain.net.pk
Website: www.icci.com.pk

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