Sherry seeks US investment in Pakistan

Pakistan’s Ambassador to the United States Sherry Rehman has urged American investors to benefit from enhanced business opportunities that Pakistan offers in several potential areas.
Speaking to members of US-Pakistan Business Council, the envoy cited the example of fast-growing telecommunication sector, saying telecom companies were aggressively bidding for a market of 100 million mobile users and others should follow the suit.
She highlighted the fact that a number of American companies were already successfully doing business in the country and contributing to better economic relations.
“The council can greatly help in dispelling adverse perceptions in the US by relating to their business success stories in Pakistan to their fellow investors, political leaders and opinion makers,” she said at the US Chamber of Commerce.
She said Islamabad was committed to providing enabling environment and a level-playing field to international investors and has been rated at the top in South Asia for ease in doing business is concerned.
The ambassador said one of the key priorities during her assignment in Washington would remain promoting stronger linkages between the private sectors of the two countries.
“The government gives priority to investments in social sectors, programmes that promote justice, development and strengthening of infrastructure, industrialisation, economic reforms and trade facilitation.”
Despite the continuing global financial crisis and regional situation, Pakistan last year achieved a 28 percent increase in exports, which were worth $25 billion.
“The positive trends have continued in the last seven months, and other macro economic indicators are showing hopeful signs.”
“We recognise that we have work to do on infrastructure and we seek your assistance on energy investment,” she added.
Sherry also reiterated Pakistan’s interest in concluding a bilateral investment treaty with the US.
“A free trade agreement with the US is an important priority for Pakistan. I am sure many people present here are fervent advocates of open market and realize the benefits to be achieved from an FTA between the two countries.”
Pakistan and the US had a robust trading relationship and the current volume of bilateral trade has doubled to $ 5.50 billion.
“While this may be a source of some satisfaction on both sides, we firmly believe that the potential for enhancing trade relations between the two countries is far greater than that was has been achieved so far.”
Welcoming the Pakistani ambassador on behalf of the members of the US-Pakistan Business Council, Chairman Miles Young said despite international financial difficulties, the American companies had made substantial profits and continued to prosper.