ISLAMABAD: The United States Ambassador to Pakistan David Hale Wednesday said Pakistan was an important ally of the United States and promotion of bilateral trade would be mutually beneficial for both countries.
Talking to a delegation of Islamabad Chamber of Commerce and Industry (ICCI), he said Pakistan was an agricultural country but using old technology but it could increase its agricultural productivity manifold by using latest agro technology and machinery of the USA, a press release issued here said.
David Hale said security situation was improving in Pakistan which was laudable.
He said improved security would attract more investors from the USA and other countries to Pakistan and help the trade and industrial activities to flourish.
He said the newly elected President of the US was a businessman and he knew very well the importance of promoting business relations with other countries.
He was optimistic that during the tenure of new US administration, Pak-US trade and economic relations would get further boost.
Speaking on the occasion, President ICCI Khalid Iqbal Malik said Pak-US bilateral trade during January-October 2016 was around $ 4.533 billion.
However, he said there was a lot of potential to further enhance two-way trade.
He said both countries should work to facilitate direct contacts between their private sectors which was the best way to improve trade relations.
He said Pakistan's economy suffered huge loss of $ 107 billion due to war against terrorism and urged that the US should provide easy access to more Pakistani products to its market that would be best compensation for its economic loss.
He said the US should launch direct flights to Pakistan that would help in promoting trade as well.
He said apart from defense products, both countries should focus on enhancing trade in many other areas.
The ICCI President said the US embassy should play role in bringing chambers of commerce of both countries closer that would help in identifying new areas of mutual cooperation.
He said Pakistan manufactured high quality pharmaceutical products and the USA should try to import these products from Pakistan for the benefit of its customers.
Senior Vice President Khalid Malik, Vice President Tahir Ayub, Mian Akram Farid, Mian Shaukat Masud, Zafar Bakhtawari, Nasir Qureshi and others also spoke at the occasion and shared ideas for further improving bilateral trade and economic relations between Pakistan and the USA.
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