LAHORE: There is optimism about the future of Pakistan-US relationship and the private sector of both sides can play a vital role in this regard, said US Consul General Elizabeth Kennedy Trudeau.
She visited the Lahore Chamber of Commerce and Industry (LCCI) on Tuesday. During the visit, she said exchange of trade delegations, close contacts and awareness sessions could help boost mutual trade. Speaking on the occasion, LCCI President Malik Tahir Javaid expressed satisfaction over growing trade between Pakistan and the US.
Quoting a report, he said the volume of bilateral trade touched a record high at $6 billion in 2017, which was ample proof of the immense trade and economic potential in the two countries.
Javaid said the business community wanted the US to consider duty-free access for Pakistani merchandise, stressing that economic stability of Pakistan through prompt direct access to the US market was a must.
“Aid or grant is undoubtedly a remedy, but has never been a substitute to trade,” he added. Javaid said the US would achieve two goals through that gesture; first, it would win the hearts of Pakistanis and second, it would be able to fulfil the promise of economic revival of Pakistan.
There was a vast scope for US investors to make investment in several sectors including power, textile, auto, health, education, food, livestock and dairy.
Therefore, the US administration must convince potential investors to pour money into joint ventures with Pakistanis besides ensuring transfer of latest technology, he said.
Talking about energy shortage, Javaid said it was the biggest hurdle to economic growth and urged the US to facilitate Pakistan in the use of civil nuclear technology for power generation.
(This news/article originally appeared in The Express Tribune on August 8th, 2018)