PR No. 123 US Pakistan Business Council Delegation Calls On The Advisor To The Prime Minister On Foreign Affairs Islamabad
A 26 member delegation of the US-Pakistan Business Council (USPBC), led by its Chairman Mr. Miles Young, called on the Advisor to the Prime Minister on Foreign Affairs Mr. Sartaj Aziz today, at the Ministry of Foreign Affairs.
Welcoming the US Business delegation, the Advisor underscored the need to convert Pakistan-US relations into a long-term partnership, particularly in the economic, trade and investment sector. He added that both sides needed to work closely in bridging the gap between the intentions of the investors to invest and their translation into actual FDI in Pakistan.
The Advisor briefed the US delegation about the notable improvement in the security situation of the country, the re-orientation in Pakistan’s foreign policy goals under the present government and the attractive economic and investment incentives offered to foreign investors.
After Pakistan’s successful counterterrorism operations, especially the Zarb-e-Azb launched in June 2014, the number of terrorist attacks in the country have been reduced significantly, as compared to the situation two years ago. The improved internal security environment has helped Pakistan to improve the investment climate and achieve greater macro-economic stability. This provides a tremendous opportunity to the US investors to benefit from the situation through increased investments in Pakistan.
The Advisor also highlighted the main contours of Pakistan’s foreign policy and underscored that it centered on the economic revival of the country through committed efforts to achieve a peaceful neighbourhood and enhanced regional connectivity.
Mr. Miles Young, Chairman USPBC thanked the Advisor for the briefing that had cleared several questions in the minds of the delegation members. He appreciated improvement in Pakistan’s economic and security situation and expressed the confidence that Pakistan has the potential and resources to become a vibrant and dynamic market economy.
The Chairman USPBC proposed that Pakistan and US should institutionalize a regular Business Dialogue to focus on concrete steps for expanding investments and attracting the business community. He informed that as a result of Pakistan’s achievements on the security and economic fronts, the good news is that over 70% of the USPBC members have already enhanced their investment levels in Pakistan during the past six month while the remaining are seriously considering to invest more in the next two to three years. He also thanked the Government of Pakistan for the hospitality offered to the visiting delegation.
The USPBC is a part of the United States Chamber of Commerce. Since its inception in 2002, the Council has been focusing on enhancing trade and investment between the US and Pakistan and promoting the bilateral economic and business relationship at the highest levels of leadership in both countries.