RAWALPINDI, Feb 18 (APP):President of the Rawalpindi Chamber of Commerce and Industry (RCCI), Usman Shaukat, has said that Pakistan stands at a decisive moment in its relations with the United States, urging policymakers to urgently convert renewed diplomatic goodwill into a structured and expanded business partnership.He reiterated the chambers resolve to stand by structural reforms for improved foreign investment.
Addressing a press conference at RCCI today, after RCCI’s high-level delegation visit to the US, Usman said that the current diplomatic environment presents a strategic opportunity that must be translated into measurable economic outcomes.
“Diplomatic warmth without economic materialization is a missed opportunity,” he remarked, stressing that both countries are presently aligned for deeper engagement.
Pakistan and the US maintain bilateral trade exceeding USD10.0 billion with textiles forming the backbone of exports. However, Shaukat said this figure is far below potential and should be tripled through diversification into high-value sectors, regulatory reforms and investor facilitation.
During engagements at Capitol Hill with members of Congress and Senators, as well as meetings with the US-Pakistan Business Council and officials from the Departments of Commerce and State, American stakeholders expressed readiness to expand trade ties., he said.
However, they emphasized that sustained investment flows require structural reforms in Pakistan’s legal and regulatory framework. “Diverse industrial sectors including pharma, IT, medical equipments, textile etc were discussed in details at various levels during the visit with positive vibes” he said.
Usman highlighted that American market imports significantly share the medicine and medical devices, where Pakistan can better exploit opportunities.
According to Usman Shaukat, US interlocutors highlighted the reforms necessitating contract enforcement, dispute resolution delays, policy inconsistency and cost of doing business. He noted that mid-tier investors and SMEs require predictable legal safeguards and internationally credible arbitration mechanisms.
He revealed that discussions included models adopted by other countries where specialized arbitration frameworks involving international judges and neutral dispute resolution systems significantly boosted foreign direct investment.
“Strong American interest was conveyed in collaboration across mining and minerals, information technology, data infrastructure, pharmaceuticals, healthcare, medical devices, construction materials and SME development ” he said.
A US-based USD 500.0 million investment fund focused on data centres has shown interest in Pakistan’s IT infrastructure, contingent upon regulatory clarity and policy stability.
The RCCI President also highlighted the growing visibility of the Pakistani diaspora within American political institutions, particularly in states such as New Jersey, describing it as a strategic asset in strengthening economic diplomacy and policy advocacy.
He underlined that to attract meaningful US investment, Pakistani government must prioritize structural reforms, reduce the cost of doing business, rationalize taxation, ensure exchange rate stability, and introduce internationally trusted arbitration mechanisms.
“We must build the structure that supports the investment “,he stated, adding that economic diplomacy must now move beyond symbolism to practical implementation.
Responding to miscellaneous media inquiries, Shaukat referred to RCCI’s engagement with the International Monetary Fund representative in Pakistan, stating that the Chamber has submitted a detailed policy paper ahead of the upcoming federal budget. He emphasized that sustainable tax collection is directly linked to business expansion.
“If businesses grow, revenues grow. If businesses close, taxation shrinks,” he said, expressing hope that in the final year of the IMF programme, policy facilitation would support economic stabilization and investor confidence. The RCCI delegation visited the United States from Feb 08 to 14, rendering intense engagements.
President RCCI said that the chamber sought early engagement with the government to brief them about the visit and identify key reform areas as well as the opportunities explored during their visit to expand bilateral trade.