US envoy calls for strengthening bilateral economic ties

KARACHI: US Special Representative for Commercial and Business Affairs Dilawar Syed visited Karachi on July 6-9 as part of a visit to Pakistan that also included stops in Islamabad, Lahore, and Sialkot.

In Karachi, the US Special Representative met with government officials, industry leaders, innovators, entrepreneurs, and business journalists to further strengthen the economic partnership and bilateral trade between Pakistan and the United States.

“I am pleased to be in Karachi, a dynamic and diverse financial and commercial hub,” said Special Representative Syed. “I am in Pakistan to reaffirm the US government’s commitment to building our economic ties and to explore ways to expand trade and investment between our two countries. Our economic ties are decades long and I’m excited to focus on this relationship as we are celebrating 75 years of relations between the United States and Pakistan.”

During his visit to Karachi, Special Representative Syed met with Foreign Minister Bilawal Bhutto, Sindh Chief Minister Syed Murad Ali Shah, Minister for Climate Change Sherry Rehman, Minister of Information Technology and Telecommunication Syed Amin ul Haque, Minister for Maritime Affairs Faisal Subzwari, Sindh Cabinet Members, and municipal and provincial officials to discuss how the United States and Pakistan can continue to work together to facilitate broad-based, equitable, and sustainable economic growth for both nations.

The US Special Representative Syed also met with Acting Director of the State Bank of Pakistan Dr Murtaza Syed about financial inclusion for women and underserved communities and the importance of improving Pakistan’s business climate for US companies and investors to spur greater economic growth.

Special Representative Syed met with numerous industry leaders to explore how to increase Pakistan’s trade balance in critical areas that will provide benefits to both Pakistanis and Americans. They discussed how the government and private sector can work together to promote a better investment climate in Pakistan and increase women’s economic empowerment, sustainability, workforce development, and corporate social responsibility. Currently, the United States is Pakistan’s largest single country export market and one of the largest sources of foreign investment. US companies and their local affiliates are among Pakistan’s largest employers, with roughly 80 US companies directly employing more than 120,000 Pakistanis.

Dilawar Syed also visited Gatron Novatex, a company with strong trade relations with the United States, where he learned more about their recently launched electronic vehicle Ecodost and recycling initiatives.

One of the highlights of Special Representative Syed’s time in Karachi was a visit to the National Incubation Center Karachi (NICK) at NED University where he participated in a panel discussion about promoting US-Pakistan innovation and investment. While at NICK, Special Representative Syed discussed how the United States and Pakistan can cooperate to strengthen the entrepreneurial ecosystem. “The United States believes that a strong, prosperous, democratic Pakistan is vitally important for the region,” Special Representative Syed noted.

“Entrepreneurship, gender equity in all sectors, and education and capacity-building opportunities are key ingredients to reaching that goal.”

Copyright Business Recorder, 2022