ISLAMABAD: Pakistan’s Ambassador to United States Masood Khan has said that Pakistan is an ideal destination for US investors and businesses due to its unique geo-economic position and impressive demographic cohorts. In an exclusive interaction with Board of Directors of Pakistan-American Chamber of Commerce (PACC) in Los Angeles, he appreciated work done by Chamber promoting trade and investment ties between two countries.

He said while bilateral trade between two countries jumped from 8.5 to 12 billion dollars last year, there was potential to increase it further by enhancing economic cooperation in targeted areas such as technology, IT tourism, extractive industry, oil and gas exploration, manufacturing, healthcare and agriculture. A group of businessmen working in textile, banking, logistics, solar and Fintech sectors as well as healthcare professionals attended. Ambassador underscored need for growing trade ties with State of California, which has a GDP of 3.5 trillion dollars.

He said Pakistan and California are important trade partners and Pakistan’s exports to California were 457 million dollar, whereas Pakistan’s imports were 138 million dollars, with a surplus of 319 million in Pakistan’s favour in past year. He urged members to have confidence in Pakistan’s economy and scale up their businesses in Pakistan as this would encourage others to invest.  

A number of companies from France, China, Germany, Singapore, South Korea and Japan are investing in Pakistan, particularly in IT sector. President PACC Fawad Ismail briefed Ambassador about organisation’s activities to enhance trade ties between Pakistan and US, including investment seminars and webinars on Roshan Digital Account.

Published in The Daily National Courier, November, 18 2022

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