DUBAI/KARACHI: FPCCI U.S-Pakistan Business Council’s sets roadmap for year 2024-25 to enhance trade and investment between the U.S. and Pakistan and promote the bilateral economic and business relationship at the highest levels of leadership in both countries.
The first meeting of the Pakistan USA Business Council 2024-25 was held at the Federation of Pakistan Chamber of Commerce and Industry (FPCCI). In which top business personalities of Pakistan and America participated to set a roadmap of council goals & objectives.
The USA Business Council of Pakistan will unlock new avenues and realms of possibilities for both countries businesses.
FPCCI & Gwinnett Chamber will provide opportunities for the Pakistani business community to network on US business activities with their peers
Shaikh Further highlighted that the United States and Pakistan have a strong economic and commercial relationship, with two-way trade reaching approximately $9.15 billion in 2022. The United States is one of Pakistan’s largest trading partners and continues to be one of the country’s leading sources of foreign direct investment. Goods exported from the United States to Pakistan reached $3.15 billion in 2022, a 13 percent decrease from 2021. The United States remained Pakistan’s largest goods export market in 2022 at $6 billion, a 13.5 percent increase from the previous year.
The meeting was chaired by Shaikh Imtiaz Hussain, Chairman of FPCCI USA-PAK Business Council. The Gwinnett County Government Planning Commissioner and Gwinnett Chamber of Commerce Director Imran Niazi was the guest of the event. While on this occasion, Senior Vice President FPCCI Saqib Fayaz Magon also graced the meeting with his valued suggestions and on behalf of FPCCI he expressed his full support for the Council and voiced his commitment to ensure close liaison between the FPCCI Chamber and the Trade Missions of Pakistan abroad.
Further in the meeting Syed Nasir Wajahat was elected Senior Vice Chairman and Muhammad Jahanzeb Khan as Vice Chairman and new directors were elected of the council tenure 2024-25.
Speaking on the occasion, Shaikh Imtiaz Hussain, Chairman of the US-Pak Council, said that he is paying special attention to promote trade between America and Pakistan. He said that deep commercial, economic and diplomatic relations have been established between the two countries, while many steps are being taken to improve the economy.
Shaikh Imtiaz Hussain said that the visit of American businessmen to Pakistan is a good sign, which will further strengthen the ties between the two countries. There are opportunities, while foreign investors are also interested in investing in Pakistan, if they are provided with incentives and opportunities in Pakistan, not only will there be an industrial revolution in the country, but there will also be an increase in exports.
Shaikh Imtiaz Hussain said that Pakistani products are very popular in America, while the export of duty-free goods will also increase foreign exchange reserves because America is one of the major markets for selling Pakistani products.
Mr. Imtiaz Hussain, Chairman Pak- USA Business Council stated that Pakistan’s Export to USA is not up to the mark which is around 5 to 6 Billion US$ which only includes Textile, Leather, Surgical Items and Sports Goods and subsequently USA imports is very insufficient from Pakistan although USA imports around 3 Trillion US$. He also informed that Pakistan produces quality products as compared to our neighbouring countries who are exporting the goods to USA valuing more than US$ 200 Billion. He stated that we need to fulfil the gap by setting the export targets.
Chairman elaborated that India is exporting 13 Billion US$ Artificial Jewelry to USA. We need to explore the potentials products and need to learn how to access new markets by making a Road Map.He added we need to work on the practically implementation of Road Map by doing Joint Ventures with American Companies and Mr. Niazi is ready to help us out in this regard.
On this occasion, Chief Guest Gwinnett County Government Planning Commissioner and Director of Gwinnett Chamber of Commerce Imran Niazi assured Pak USA Council Chairman Shaikh Imtiaz Hussain of his cooperation to strengthen trade relations between the two countries and increase trade volume. Assuring that the businessmen and industrialists of both the countries are making efforts to increase the volume of joint trade. He said that the exchange of high trade delegations will also increase the experience. He said that America and Pakistan are cooperating with each other in various fields of life, which will not only increase the export and foreign exchange reserves but also stabilize the economy.
