DUBAI: Pakistan cannot progress without overcoming several economic challenges, Federal Finance Minister Ishaq Dar said on Tuesday.
Speaking at the second US-Pakistan Business Opportunities Conference here, Dar said Pakistan’s democratic government is moving forward with a clear economic vision and strategy.
Pakistan has enormous investment opportunities in the fields of banking, finance and telecommunication, he said, adding there are also great opportunities in other areas like energy, oil and gas and electronic media.
“People of Pakistan have given a clear mandate to the newly elected government,” he said.
The conference opened here on Tuesday to discuss and explore business and investment opportunities for businessmen of the two countries.
Federal Minister for Water and Power Khawaja Asif addressed the opening session of the two-day conference.
He said that the conference provides an excellent chance for businessmen of the two countries.
Asif also thanked organizers of the conference.
The conference is being organized under the auspices of the US Embassy in Islamabad. US Ambassador Richard Olson had last week emphasized the importance of trade and investment in the US-Pakistan relationship, stressing a shift from traditional assistance toward stronger business-to-business ties.
“With 190 million potential customers, Pakistan is a huge emerging market opportunity for U.S. companies. We encourage American and Pakistani businesses to work together to capitalize on this opportunity,” Ambassador Olson observed.
Ambassador Olson noted that the United States is one of the largest investors in Pakistan, and that Pakistan exports more products to the United States than to any other country in the world. “The U.S. government sees Pakistan’s prosperity as good for the region and good for the United States,” he added.
He emphasized that the conference, which is jointly organized by the U.S. and Pakistan governments, will play a significant role in promoting private-sector-led growth in Pakistan by strengthening bilateral economic ties, promoting trade and investment, and strengthening business education.