Islamabad, November 11, 2021 (PPI-OT):The New York Consulate of the Pakistani embassy in the US and the US-Pakistan International Chamber of Commerce (USPICC) have agreed to work together for the promotion of bilateral trade and investment between the two countries. The decision was taken in a meeting between President USPICC Sajjad Hussain Qamar and Consul General New York Ms. Ayesha Ali. Secretary-General USPICC Pakistan Chapter Malik Sohail Hussain and Talat Gondal, Trade and Investment Counsellor were also present in the meeting.
They agreed to facilitate the export of Pakistani products and fruits to the US and join hands to facilitate US based businesses and businessmen to invest in Pakistan, which is offering one of the most attractive investment climate in the region. They also agreed to encourage their businessmen from both countries to network, exchange delegations, participate in trade fairs, exhibitions and endeavour for the establishment of joint ventures in different sectors.
During the meeting, both sides expressed confidence that their efforts will further strengthen economic and trade relations for the mutual benefit of the two countries. Consul General New York Ms. Ayesha Ali informed about the initiatives of the Pakistani embassy in the US for the promotion of bilateral trade and welfare of Pakistanis living there. She said that we should strive to achieve common goals aimed at serving our country in the best possible way.
President USPICC Sajjad Hussain Qamar said that the United States and Pakistan have a strong economic and commercial relationship, and the US is one of the Pakistan’s largest trading partners and a leading source of foreign direct investment. Pakistan Board of Investment (BOI) should hold roadshows in the US to promote opportunities in the energy, real estate, education, IT, and other sectors of Pakistan, and USPICC is willing to facilitate BOI for such roadshows in NYC and Washington DC, he added.
Sajjad Hussain Qamar said that Pakistan and the United States signed a Trade and Investment Framework Agreement (TIFA) in 2003 and began negotiating a Bilateral Investment Treaty (BIT) in 2004 which should be worked on to get it finalized. Sajjad Hussain Qamar noted that USPICC is ready to play its role to facilitate Pakistan Embassy, Pakistan Ministry of Commerce and other Pakistan government bodies in bringing various stake holders from the US to create an environment so a bilateral trade treaty can become a reality.
Sajjad Qamar noted that USPICC is looking to take a delegation of businessmen from US to Pakistan during spring of 2022, Ms. Ayesha Ali offered to facilitate USPICC delegation to make it a success. Malik Sohail Hussain said that the spirit of friendship and cooperation should be enhanced, and the identified areas should be promoted.
He further informed Ms. Ayesha Ali about his trip to Washington DC where he met with elected Congressmen, local government executives and elected officials, university and community college officials, community and business leaders. All such meetings were organized by USPICC and specifically by the tireless efforts of M. Siddique Sheikh, Founder and Chairman of BOD Of USPICC. Mr. Hussain noted that Mr. Sheikh has cultivated strong relationships over the course of 50 years, and Pakistan Govt and businesses based in Pakistan should take advantage of the USPICC’s platform to enhance bilateral trade and investment relations between two countries. Mr. Hussain noted that USPICC will organize a business delegation of leading Pakistani businessmen to come to the USA to explore opportunities.
For more information, contact:
Secretary General,
US-Pakistan International Chamber of Commerce (USPICC)
Former Chairman Coordination FPCCI
Former Chairman Coordination SAARC Chamber
Chief Coordinator United Business Group
Former SVP, Islamabad Chamber of Commerce
Tel: +92-333-5155300