US trade mission due in August

Karachi: “A broadrange trade mission of Businessmen and Industrialists under the aegis of U.S-Pakistan Business Council will visit Pakistan in August 2013. This mission will also include potential investors who are determined to invest in Pakistan.”

This was stated by Miles Young, Chairman of U.S-Pakistan Business Council, U.S. Chamber of Commerce in his meeting with President Karachi Chamber of Commerce & Industry Muhammad Haroon Agar and Executive Members at KCCI.

Miles Young further added that “in the opinion of U.S-Pakistan Business Council which is a part of U.S. Chamber of Commerce, while U.S. companies have been committed to Pakistan for over six decades, the growing opportunities presented by the country is finally maturing. Pakistan is a young, growing Nation with an increasingly large and sophisticated domestic consumer market; so, why not Pakistan because the time to start is now.”

Ms Esperanza Gomez Jelalian, Executive Director, U.S-Pakistan Business Council USPBC, U.S. Chamber of Commerce in her remarks reminded that the USPBC hosted KCCI’s High Profile Delegations to Washington in 2007 and 2012. During those meetings the importance of Karachi Chamber of Commerce & Industry was acknowledged.

Earlier, Muhammad Haroon Agar in his welcome speech urged to formalize institutional relationship between KCCI and U.S-Pakistan Business Council USPBC on the pattern of Pak-Afghan Joint Chamber and ICC-Pakistan-KCCI World Chambers Federation Commission. KCCI is the only Chamber in Pakistan to have undertaken visits to the U.S. to interact with senior US officials at the Congress, State Department, Commerce Department, OPIC, Exim Bank, U.S. Chamber of Commerce. KCCI strongly supports the initiatives of the two governments in achieving the Bilateral Investment Treaty followed by negotiations of Free Trade Agreement to bring closer the two Nations.

Agar stated the USA is largest trading and investment partner of Pakistan. He appreciated that although many American companies in Pakistan are operating in Pakistan, however, this cooperation does not reflect the true potential exist between two countries. He voiced that U.S. civil assistance to Pakistan should transform to trade and market access. “We expect U.S. to help Pakistan to address the economic challenges, energy crises, more investment, technology transfer, education and training, scientific research and infrastructural development.”

He urged to setup Pakistan-U.S. Economic Consultative Group on the pattern of Pak-U.S. Defence Consultative Groups which held 21 meetings so far. The areas of cooperation between USA and Pakistan should embrace trade and investment, energy, clean water, economic partnership, job opportunities, counter terrorism, infrastructure development and cold chain systems.

He urged the US Chamber of Commerce to convince the policy makers in US to provide more market access which would also end uncertainty and unrest in Pakistan as more and more employments will be generated to engage the youth in the positive directions. “If market access is granted, Pakistan can export worth $ 25billion to US alone.”

KCCI would like to play the role of a bridge between the business communities of U.S. and Pakistan and assure our best support and cooperation to the U.S. Chamber of Commerce in this regard, he maintained.