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US firms keen to enhance investment in Pakistan

US firms keen to enhance investment in Pakistan

KARACHI: The perception of Pakistan in the international market is improving as US firms and investors are looking forward to investing in the country, said US Consulate General Karachi Economic Unit Chief Chad Miner.

Addressing a meeting organised by the Korangi Association of Trade and Industry (KATI), Miner said Karachi is a lively city and the image of the country is changing. He said that Prime Minister Imran Khan has promised positive measures and has shown serious intent to bring reforms in Pakistan’s economic system. Owing to these positive measures, American companies are now looking forward to opportunities in Pakistan, he added.

Speaking on the occasion, KATI President Danish Khan said, “US is the largest trade partner of Pakistan. We look forward to expanding this relationship for the mutual interest of both countries.”

He urged relaxation in tariffs for Pakistani products, adding that after effective measures to reinstate law and order and curbing money laundering, the business environment 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.

Also present in the meeting, KATI standing committee on diplomatic affairs head Masood Naqvi said the US has invested enormously in social and development sector of Pakistan, which should be appreciated.

“We should reconsider the strategy; social indicators can only be improved with industrialisation and economic prosperity.” To improve business-to-business relations and interaction of both countries, US should reconsider its travel advisories for its citizens, he stressed.