Promotion of two-way trade mutually beneficial: US envoy

David Hale, Ambassador of the US to Pakistan, said on Wednesday that Pakistan was an important ally of US against war on terror and his country wanted to further enhance trade with it as promotion of two-way trade would be mutually beneficial for both countries.
He was talking to a delegation of Islamabad Chamber of Commerce and Industry that called on him led by President Khalid Iqbal Malik, says a press release issued here. The US envoy said Pakistan was an agricultural country but was using old technology, added that Pakistan could increase its agricultural productivity manifold by using latest agro technology and machinery of US. He said security situation was improving in Pakistan which is laudable. He said improved security would attract more investors from US and other countries to Pakistan and help trade and industrial activities to flourish.
He said the newly elected President of 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 Islamabad Chamber of Commerce and Industry Khalid Iqbal Malik said Pak-US bilateral trade during January-October 2016 was around $4.533 billion. However, he said there was lot more 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 fighting war against terror and urged that US should provide easy access to more Pakistani products to its market that would be best compensation for its economic loss. He said US should launch direct flights to Pakistan that would help in promoting trade as well.
He said apart from defence products, both countries should focus on enhancing trade in many other areas. He said embassy should play role in bringing chambers of commerce of both countries closer that would help in identifying new areas of mutual co-operation. He said Pakistan manufactured high quality pharmaceutical products and USA should try to import these products from Pakistan for the benefit of its customers.
Khalid Malik Senior Vice President, Tahir Ayub Vice President ICCI, Mian Akram Farid, Mian Shaukat Masud, Zafar Bakhtawari, Nasir Qureshi and others also spoke on the occasion and shared ideas for further improving bilateral trade and economic relations.-PR