Faisalabad: In a business community meeting held at the Faisalabad Chamber of Commerce and Industry (FCCI) on Thursday, Commercial Counsellor of the United States Stephen P Knode said that trade between the two countries was rising and exports from US were valued at $2.1b in 2016. He added that exports from Jan-May 2017 from the US to Pakistan stood at $1.3b.
Knode said that small and medium enterprises from the US were working on making investments in the country, which would give Pakistani entrepreneurs an opportunity to work in conjunction with them and open new avenues for export of their products. And by partnering with these SME’s, the entrepreneurs could get access to vital capital and technological expertise, he added.
He mentioned that the US’s commercial diplomacy was focused on the boosting of bilateral trade between the two countries. Knode explained that the reason for moving the offices of commercial counsellor to Karachi was carried out due to its status as the economic heartland of the country. Faisalabad which contributes 20pc to the gross domestic product (GDP) of the country, also has a counsellor office stated Knode.
He told that “Invest in America Summit” was organized last month in which many Pakistani companies participated. Similarly both countries would also exchange at least twenty trade delegations this year which would enhance understanding and better interaction between the businessmen of two countries.
Knode highlighted that Pizza Hutt is raising its footprint from 75 to 150 outlets and urged Pakistani investors to look into investment opportunities available in the US and the commercial service department would help them in this regard.
Pakistan’s exports to the US stood at $3.62b and US exports to Pakistan were recorded at $2.1b during 2016, said FCCI Acting President Rana Sikandar-e-Azam.
