Pakistani businessmen invited to US investment moot
US Consul General Yuriy Fedkiw has invited Pakistani businessmen to participate in “Select USA Investment moot” being held in Washington DC from June 18 to 20. He was talking to the LCCI Acting President Amjad Ali Jawa here at the Lahore Chamber of Commerce & Industry. US Senior Commercial Counselor Steve Knode, former LCCI Senior Vice President Mian Nauman Kabir, Executive Committee Members Mian Zahid Javed, Nasir Taskeen and Mian Muhammad Nawaz were also present on the occasion.
US Consul General said that growing Pakistani companies must participate in this moot. He said that trend of two-way trade is positive that is a healthy sign. He said that we can do more to boost trade and economic relations between United States and Pakistan.
He invited the Lahore Chamber of Commerce & Industry to arrange a delegation for United States to explore trade and investment opportunities. It would also pave way for joint ventures. He informed the participants that US government has designed a program named “Select USA” to promote investment in the country. He said that we have a calendar of activities having information regarding trade shows etc.
The LCCI Acing President Amjad Ali Jawa said that Pakistan and USA have a long history of diplomatic relations. USA happens to be the largest trading partner of country with a total trade of more than dollar 5.5 billion. He said that Pakistan hopes to tap the tremendous potential in the USA market and increase its exports to USA which have shown some stagnation in the last few years.
He said that in 2013, Pakistan exported goods to USA to the tune of dollar 3.75 billion which remained almost stagnant in next two years with dollar 3.65 billion and dollar 3.66 billion. In contrast to that, the imports from USA to Pakistan are consistently following increasing trend for the last three years. From 2013 on, the imports surged from dollar 1.67 billion to dollar 1.8 billion and dollar 1.92 billion respectively. That has resulted in increasing the volume of total trade.
“LCCI believes that the total trade between the two countries has the potential to touch the figure of dollar 10 billion if favorable policy initiatives are taken by the two countries” the LCCI Acting President added and said that in trade diplomacy and for that matter we keep organizing trade delegations. He said that LCCI has planned to take sector specific businessmen delegation to visit USA in July this year comprising highly motivated and seasoned businessmen. He hoped that US Embassy will extend best cooperation in this connection which has been the hallmark of working relations between LCCI and US diplomats. He said that we are ready to respond positively to any initiative taken by you that aims at enhancing trade and investment opportunities for bringing positive change in the current state of affairs. We want win-win situation for both the countries and that should be the chief motive behind every initiative taken by us.