ISLAMABAD, Feb 01 (APP):Chairman, Pak-US Business Council Founder, Iftikhar Ali Malik Saturday said 15 high level US trade delegations will visit Pakistan in 2020 to enhance volume of trade and further explore investment avenues in various sectors to help boost and accelerate economic activities in the country.
He disclosed it while talking to a 10 members delegation of leading exporters from Faisalabad jointly led by Rana Anwaar Ul Haq and Rana Tariq Anwaar,” said a news release issued here on Saturday.
He said Pakistan is keen to further expand economic ties with the United States and to explore full economic potential of bilateral relations through joint ventures.
He said the business community in Pakistan is ready to welcome United States trade delegations to Pakistan to further explore possibilities for expanding trade with the country with open heart.
Iftikhar Malik urged the US investors to explore Pakistan as an investment destination as reputable international firms and investors, from Europe and Asia, are investing in Pakistan.
He assured his full support to US investors interested in pursuing investment opportunities in Pakistan.
He further said there is dire need of high-level bilateral discussions of working groups on agriculture, economics and finance, energy, market access, and science and technology.
He also underscored the opportunities available for industrial development in the special economic zones of China-Pakistan Economic Corridor, including the relocation of industries from abroad to benefit from low wages of the skilled workers in Pakistan.
He said China Pakistan Economic Corridor (CPEC)has created plenty of opportunities for joint ventures and investment in Pakistan and it was the right time for US investors to visit in Pakistan and grab these opportunities for developing sustainable business partnerships with Pakistani counterparts.
He urged the local traders and investors to chalk out plans to take American investors to Special Economic Zones especially Allama Iqbal Industrial City of Faisalabad Industrial Estate Development and Management Company (FIEDMC) under CPEC.
Iftikhar Malik said American energy producers are seeing more and more business opportunities with Pakistan and American companies are incorporating cutting-edge technologies into energy projects throughout Pakistan He was of the opinion that Pakistani pharmaceutical companies were mostly importing raw material to produce medicines and stressed that US investors should try to set up raw material producing plants in Allama Iqbal Industrial City as this business has immense scope in Pakistan.
Besides this, he further said all industries within the export processing zone would be exempted from tax for a period of 10 years and plants, machinery, raw material and other equipment would be imported duty-free.
Reiterating his earlier stance, he said Pak-US Business Council is ready to play its role for enhancing cooperation with key organizations in both countries to ensure cohesive and coordinated strategies in promoting US private sector interests in Pakistan.
Rana Anwaar Ul Haq and Tariq Anwaar said exporters would definitely facilitate the US traders delegation and involve Pak US Business Council to make their visit result oriented and successful.
They also demanded free access to US markets in view of Pakistan colossal sacrifices to stamp out menace of terror in the region.