ISLAMABAD – Pak-US Business Council Founder Chairman Iftikhar Ali MalikSaturday welcomed US President Donald Trump’s statement for enhancing tradevolume with Pakistan during his meeting with Prime Minister Imran Khan onthe sidelines of the World Economic Forum in Davos.
He expressed these views while talking to a delegation of traders andinvestors here today,” says a press release issued here today.
He said the perception of Pakistan under the dynamic leadership of PrimeMinister Imran Khan is improving in the international market as US firmsand investors are looking forward for joint ventures and investment inPakistan.
He said this is good omen for Pakistan that President Donald Trump was“extremely enthusiastic about the potential for increasing and expandingour US-Pakistan trade and investment relationship.
He further said Pakistan needs to chalk out comprehensive strategies totake full advantage of planned visits of 15 US trade delegations expectingto visit Pakistan this current year to explore possibilities for expandingtrade with the country.
Iftikhar Malik said the situation has changed remarkably after Pakistan’sgetting 28 slots on the World Bank’s 2020 Ease of Doing Business rankingand being highlighted as one of the top ten reformers globally.
He further said after effective measures taken by the incumbent governmentto reinstate law and order and curbing money laundering, the businessenvironment of Pakistan has gotten far better.
Identifying areas, he said there was potential in agriculture, livestock,and food processing and seafood sectors for US companies.
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He said CPEC has created plenty of opportunities for joint ventures andinvestment in Pakistan and it was the right time for US investors to visitPakistan and grab these opportunities for developing sustainable businesspartnerships with Pakistani counterparts.
He urged the local traders and investors to chalk out plans to takeAmerican investors to Special Economic Zones especially Allama IqbalIndustrial City of FIEDMC under CPEC.
He was of opinion that Pakistani pharmaceutical companies were mostlyimporting raw material to produce medicines and stressed that US investorsshould try to set up raw material producing plants in Allama IqbalIndustrial City as this business has immense scope in Pakistan. Besidesthis, he further said all industries within the export processing zone willbe exempted from tax for a period of 10 years and plants, machinery, rawmaterial and other equipment will be imported duty-free.
Iftikhar Malik said there is dire need of encouraging international bestpractices to develop Pakistan’s technology sector, and enable theintroduction of the latest technologies into the market.
Reiterating his earlier stance, he said Pak-US Business Council is ready toplay its role for enhancing cooperation with key organizations in bothcountries to ensure cohesive and coordinated strategies in promoting USprivate sector interests in Pakistan.
