The US government is interested in expanding trade and investment ties with Pakistan, which is the largest exporter of goods to the US, stated The Chief of the Economic Unit of the Consulate General of United States, Chad Miner.
Speaking at a meeting during his visit to the Karachi Chamber of Commerce and Industry (KCCI) on Tuesday, Chad highlighted some irritants related to value-addition and packaging criteria for Pakistani products to be exported to the US.
The Commercial Team of US Consulate visited KCCI to seek the chamber’s input on the current economic environment in Pakistan and acquaint KCCI’s business community with American business interests of investing in numerous sectors of Pakistan’s economy.
KCCI President Makda stressed the need of having a free trade agreement (FTA) between Pakistan and the US to pave the way for enhanced trade and investment between the two countries.
KCCI President Junaid Esmail Makda, Vice President Asif Sheikh Javaid, former president Majyd Aziz, Commercial Specialist of US Consulate Tashfeen Mehdi and Economic Specialist Mehreen Kashif along with KCCI Managing Committee members also attended the meeting.
He added that it was high time that Pakistan made the best use of the generalized systems of preferences (GSP) opportunity keeping in view the withdrawal of GSP facility to India and Turkey.
“Under GSP, approximately 3,500 Pakistani products have been granted duty-free access to the United States, but the textile sector did not fall under GSP. Which, if added, would result in taking the existing trade volume to new heights,” he said.
Prime Minister Imran Khan is scheduled to visit the US soon, and the PM should request the US authorities to add Pakistani textiles in the GSP list, he suggested.
KCCI president also appreciated USAID’s support to Pakistan in the education and health sectors, gender equality, and women empowerment. He thinks that CPEC is a good opportunity for US companies and it’s really heartening to see that companies like Exxon and Texaco have invested in Pakistan in oil exploration projects.
He further stated that the present government intended to ensure ease of doing business which would also be beneficial for foreign investors intending to set up their business or undertake joint ventures in Pakistan.
“There are lots of investment opportunities in Pakistan for US investors who can either establish their business units here or undertake joint ventures in collaboration with their Pakistani counterparts,” he added.
