Moreover, in collaboration with the FCCI, the US Consulate Lahore will organise seminars, workshops and awareness programmes on business opportunities in USA and Pakistan. In this regard, experts on solar power generation and safety and personal security protection programmes will be offered accordingly.
He acknowledged the rapid industrialisation, commerce and trade activities in Punjab and termed Punjab as a future business hub of the country. He further appreciated FCCI activities for promoting commerce and trade. Later on Hassan Raza, commercial specialist briefed about the trade and commerce activities of US Consulate whereby US Consulate is organising three delegations for USA and offered services and information about GSP Webinar
Earlier, in his welcome address, Engineer Muhammad Saeed Sheikh said that Pakistan and USA have always enjoyed extremely cordial and friendly relations. US has been a valuable partner in Pakistan's efforts for national development and peace, stability and economic development.
He further said no doubt that USA is Pakistan's largest trading partner but still trade volume is far below the potential and there is a wider scope to enhance the bilateral trade. He added that during the last decade, economy of Pakistan has suffered huge loss due to the war against terrorism whereby the US government has not offered compensation reciprocally.
Continuing, president FCCI said that in fiscal year 2016 bilateral trade stood at $5.72 billion in favour of Pakistan. Pakistan exported $3.62 billion worth of goods to US while USA's exports to Pakistan stood at $2.10 billion and aimed to increase this level that requires not only greater access to US markets but also transfer of technology. He suggested for further preferences from US government under its GSP program and Trade and Investment Framework Agreement (TIFA).
He highlighted that Pakistan being an agrarian economy and 5th largest producer of milk, suggested joint ventures in agro-based and agri-value addition projects where USA can provide awareness and expertise in these sectors. Pakistan economy is moving ahead and mega infrastructure project of China-Pakistan Economic Corridor is launched, further he proposed joint ventures in transportation sector where huge potential exists.
He told that there is need to continue dialogue on the pending issues of Bilateral Investment Treaty (BIT) to tap the investment potential between both the countries. Mian Javed, Syed Zia Alamdaar Hussain, Engr Suhail Bin Rasheed, Engr Ihtesham Javaid, and Rizwan Ashraf also participated in question answer session. Later, Mian Javed Iqbal Former President FCCI offered vote of thanks to US Consul General. Meeting concluded with FCCI shields presented to the Consul General and his team by President FCCI Engineer Muhammad Saeed Sheikh.
Copyright Business Recorder, 2017