Islamabad; The Rawalpindi Chamber of Commerce and Industry (RCCI) in collaboration with Pakistan American business Forum (PBAF) organized 3rd edition of Pak US business summit at a local hotel in Islamabad on 09 Jan 2020.
Minister for Parliamentary Affairs Azam Swati who was the chief guest on the occasion, in his address said that the Pakistan desire to have strong trade relations based on mutual interest and mutual inter-dependency. The government is committed to provide conducive environment for business activities and informed that legislation and reforms are being introduce to resolve issues linked with traders. The trade volume is low between the two countries and expressed hope those in coming years this will increase. He invited overseas Pakistanis to invest in different sectors. Appreciating the RCCI’s efforts for organizing the event Azam Swati said that business community is the key stake holder.
US Ambassador Paul W. Jones while addressing the summit appreciated PBAF and RCCI for organizing the moot and added that his office and embassy staff, commercial counselor Nathan Seifert and trade and economic officer are ready to provide all kind of assistance and cooperation.
He said It’s a greatest opportunity to build our relations and US-Pak trade relations are reflecting positive figures. Pakistani exports to US has been increased 6% in 2019 as compare to the same period in 2018 and referred that in 2018 the two way trade stands at 6.6 billion dollars.
There is a big opportunity for Pakistan to avail GSP facility and numbers shows that relatively a small portion of $280 million under GSP which I would say Pakistani exporters to take full advantage of GSP as major countries including India, Indonesia and Turkey lost GSP preferences. There is big market opportunity for traders mainly in sectors including food, animal products, footwear and vegetables, auto parts and table wear.
President Pakistan American Business Forum (PBAF) Riaz Hussain in his address highlighted the key objectives of the forum with respect to Pakistan and US trade relations. PABF is working voluntarily with a motive to pay back to the homeland Pakistan and providing an opportunity for Pakistani products to reach to the US market vice versa. He further thanked and welcomed Pakistani Business community who participated in the summit.
Secretary PBAF Anwer Azam also addressed the summit and apprised the participants on Business and Tax laws in US. He give a detail presentation on the Tax systems and the benefits offered by the US government to the citizens.
The seminar was deliberated by a Mr Qaiser Nawab – who is serving at intergovernmental organisation- Commission on Science and Technology for Sustainable Development in the South (COMSATS) saying that such conferences offer an opportunity to promote bilateral values beside business. He said US established diplomatic relations with Pakistan after two months and six days just after the independence in 1947, becoming one of the first country to recognize us. Both the countries Pakistan and US have a good relations and are allies against the terrorism and exchange of knowledge/Culture and educational diplomacy. Further he said, Pakistan is one of the youngest country in the world having 64% of youth and such events provide an employment opportunity for them.
President RCCI Saboor Malik in his address said that the major purpose of the summit was to provide an opportunity to exchange the views and identify the hurdles in trade ties between the two business communities. The US has titled 2020 as Partners for Prosperity Year, which can only be materialized once we have an increase in people to people contact. Also, enhance cooperation with key organizations in both countries to ensure cohesive and coordinated strategies in promoting U.S. private sector interests in Pakistan, he added. We have many shared interests, including the Education, Human Rights, peace, security, and economic development in Pakistan and in the region, he added. He also informed that the RCCI is organizing 5th edition of International Rawal Expo in the first week of April 2020 and invited US companies and the embassy to take part in the exhibition.
MNAs Dr Haider Ali Khan, Murtaza Javed Abbasi,, Senior Vice President Noherwan Khalil Khan, Vice President Hamza Sarosh, group leader Sohail Altaf, former presidents, ,members of the executive committee, and large number of traders attended the summit.
