PABF Delegation Calls On LCCI President To Discuss Investment Scenario

PABF Delegation Calls On LCCI President To Discuss Investment Scenario

LAHORE (Jan 15, 2020): A delegation of Pak–America Business Forum (PABF) called on the LCCI President Irfan Iqbal Sheikh on Tuesday. President of the Forum Riaz Hussain was leading the delegation while LCCI Vice President Mian Zahid Jawaid Ahmad also spoke on the occasion.

LCCI Executive Committee Members Haji Asif Sehar, Fayyaz Haider and Haris Attiq were present.

LCCI President Irfan Iqbal Sheikh said that Pakistan is a land of opportunities for the foreign investors and it is the right to invest here in the potential areas including Pharmaceuticals, Leather, Light Engineering, Surgical Instruments, Processed Food, Financial Services, Retail Sector, Agriculture Technology, Poultry and Meat etc.

He said that Pakistan and United States are steady trading partners and USA comes at 1st and 4th place respectively among the top exporting and importing countries for Pakistan around the globe.

USA happens to be the biggest export market for Pakistani products and in 2018, almost 16% of our exports made their way to US market.

“Consistent rise in bilateral trade figures”, the LCCI President said and added that from 2016 on, trade volume improved from 5.4 billion dollars to 6.4 billion dollars and reached 6.8 billion dollars in 2018.

He was of the view that it has the potential to get doubled through favorable policy initiatives. He hoped that interaction between Pakistani and American businessmen will go a long way in further strengthening the trade and investment relations between both the countries.

He also emphasized the need of direct market access for Pakistani exporters in United States. He said that textile is the largest export sector to US from Pakistan. “We have the potential to double or triple our export of this sector immediately by just giving direct access to US retailers and by encouraging value addition”, he said. 

Head of the delegation said that Pak America Business Forum’s mission is to foster, develop, and expand the strategic business alliance between the U.S. and Pakistan and contribute to the accurate depiction of the Pakistani business environment.