ISLAMABAD, Pakistan: Prime Minister Muhammad Nawaz Sharif Thursday asked the US-Pakistan Business Council (USPBC) to play its role in urging the US lawmakers the importance of providing preferential market access to Pakistani goods.
Addressing the USPBC Business Delegation here at the PM House during a luncheon meeting, the Prime Minister expressed confidence that the Council would also continue to play an active role in sharing with the larger US business community, positive experiences of doing business with and investing in Pakistan.
He said the Pakistani nation was now on a course of realizing its true potential as a democratic country with strong institutions and a vibrant economy.
He said Pakistan was among the few places in the world that offers the promise of resources, geography and people, all at the same time. Increasing urbanization, favorable demographics, a growing middle class and economically empowered women and youth are some of the key drivers of the growth.
Sharif said Pakistan also has one of the most attractive investment regimes in the world, which allows foreign investors 100% repatriation of profits and easy convertibility into foreign exchange.
Prime Minister said Pakistan believes the private sector to be the engine of economic growth and consider foreign investment as a necessary catalyst for creating more economic opportunities.
We believe that a vibrant private sector is essential to a government’s ability to provide the best possible services to its citizens. My government is committed to providing an enabling environment, sustained by institutional structures that facilitate and allow the private sector to flourish, he added.
The Prime Minister mentioned the recently launched 46 billion Dollars China-Pakistan Economic Corridor (CPEC) and said it was a mark of growing confidence in Pakistan’s economy and its future potential. This programme will spur regional economic integration and bring prosperity to the entire region and beyond.
The Prime Minister said United States remains one of the most important economic and trading partners of Pakistan. He said leading US companies have invested billions of dollars in Pakistan and are making healthy profits.
He said the past testifies to the fact that those US companies that invested in Pakistan did reap rich dividends. The future promises to be even better.
The delegation comprised Chairman US-Pakistan Business Council Miles Young, Mehmood Khan Vice Chairman and the US Ambassador to Pakistan David Hale. The 14-member delegation comprised US businessmen, executives, investors, and industry leaders.
The Prime Minister said the US Chamber of Commerce epitomizes American enterprise and dynamism. He said through the US-Pakistan Business Council, the Chamber has been a close and trusted partner of Pakistan and has made commendable efforts to promote business-to-business collaboration between Pakistan and the United States.
He said it has in the process, further strengthened relations between the two countries. He particularly thanked Chairman Miles Young and his team for their efforts in this regard and expressed confidence that the visit will go a long way in opening up new avenues for trade and investment flows between Pakistan and the United States.
Source: APP
