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United States can reciprocate contributions of Pakistan as frontline state in war against terror by helping to address economic challenges

United States can reciprocate contributions of Pakistan as frontline state in war against terror by helping to address economic challenges
Karachi, October 17, 2012 (PPI-OT):

Karachi Chamber of Commerce and Industry’s President Muhammad Haroon Agar voiced that US can reciprocate to the contributions of Pakistan as frontline state in war against terror by helping Pakistan to address the economic challenges through shifting its support from conventional aid to market access, investment, technology transfer, health, education and training, scientific research, power generation and infrastructural development. Exchanging views with James Fluker, Senior Commercial Counsellor, US Embassy in Islamabad during his visit to KCCI, Haroon Agar articulated that Pakistan’s role in combating terrorism has not been materialized in terms of increased economic cooperation between Pakistan and USA.

He articulated that American companies in Pakistan are enjoying successful business opportunities while contributing revenue for national exchequer and similarly the said companies also have created thousands of jobs in the country, however he said, these contributions do not reflect the real magnitude and true potential and the exemplary friendship and harmony shared by our two countries.

He urged the Commercial Counsellor to motivate US investors to invest in Pakistan because no single multi-national corporation has wrapped up its business from Pakistan and enjoying profitable business successfully. Earlier, President, Karachi Chamber of Commerce and Industry welcomed the James Fluker US Senior Commercial Officer in Islamabad accompanied by Jonathan Ward Economic and Commercial Consul in Karachi and Malik Attiq Commercial Specialist US Commercial Service and apprised them about the role of KCCI to promote trade and industry in Pakistan and elsewhere. He also superficially shared views on existing Pak-US bilateral trade and socio-economic relationship.

James Fluker, Senior Commercial Counsellor, US Embassy in Islamabad recognized the vibrant role of Karachi Chamber of Commerce and Industry for promotion of commercial and industrial activities. He informed that US Commercial Section aims to promote commercial activities, US companies and works as trade promotion agency.

US Commercial Service provides export counselling, promotes US products and services in Pakistan, in addition to counselling and advocating US Commercial interests in the country. Services offered are wide range of trade promotion services to both American Companies as well as Pakistani Companies.

He informed that US Commercial Specialists can help US companies in identifying potential trade opportunities and trade partners by providing valuable market intelligence, potential and qualified business partners, and thus enabling a profitable business in Pakistan.

Business delegations are composed and trade shows are also organized for business matchmaking and integration. Owing to law and order situation and unrest in Pakistan, US companies are often reluctant to come to Pakistan. Several companies are in contact with US Overseas Private Investment Corporation (OPIC). US government as well as private sector has planned to pool its funds of initial $80 Million under Pakistan Private Investment Initiative Fund being implemented and managed by USAID.

This Fund would target and assist the SME sector and should be extremely beneficial for it. Upon working well such funding will be increased likely, he said. Commercial Services charge fee for matchmaking and provides due-diligence service as well. Replying to a question of US Single country exhibition in Pakistan, he said that catalogue show and multimedia presentations can be made. On GSP he informed that 12 items of textiles were included in GSP list, however, US market was open for all Pakistani products and tariffs vary for different products.

Former Presidents KCCI Anjum Nisar and Majyd Aziz, Senior Vice President KCCI Shamim Firpo, Vice President Nasir Mehmood and Managing Committee Members also participated in the meeting and shared their views on Pak-US bilateral Commercial opportunities.

For more information, contact:
M. Shafiq Baig
Public Relations Officer
Karachi Chamber of Commerce and Industry (KCCI)
Aiwan-e-Tijarat Road,
Shahrah-e-Liaquat, Karachi-74000
Tel: +9221 9921 8001 -09
Fax: +9221 9921 8010
Email: pro@kcci.com.pk, pro2@kcci.com.pk
Website: http://www.kcci.com.pk/

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