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Abdul Hafeez Shaikh discusses economic, investment ties with US officials

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Dr Shaikh, who participated in a major Harvard University conference in Boston this week as a keynote speaker, met with Deputy Treasury Secretary Neal Wolin and Deputy Secretary of State for Management and Resources Thomas Nides in Washington on Friday.

With respect to economic cooperation the meetings can also be considered as follow up to discussions, US Secretary of State Hillary Clinton had with with Pakistani leaders on bilateral cooperation in Islamabad last week, Dr Shaikh said.

"The meetings focused on economic relationship and we reviewed (cooperation) in areas of continuing collaboration including the broad areas of economic assistance to Pakistan, the means of using American institutions like OPIC (Overseas Private Investment Corporation) and the EXIM Bank as well as the US government's facilitation in attractiong private sector investment into Pakistan," the finance minister told APP here Friday evening.

During the meetings, Dr Shaikh and the US officials also looked at the possibilities of economic cooperation between South and Central Asia and progress of the Pakistan-specific Enterprize Development Fund.

The discussions looked at aspects of economic components of the strategic dialogue between Pakistan and the United States and some of the preparation for the upcoming Istanbul and Bonn international conferences.

In recent months, the American officials have indicated Washington's willingness to assist Pakistan in boosting its energy sector output including support for construction of a large multibillion water dam in the north of the country.

The Harvard University conference, where Dr Shaikh joined top 100 world economic leaders, discussd growth prospects of various regions and specific countries.

According to a newly developed Harvard Index, the future growth potential of Pakistan is ranked among countries likely to achieve higher growth rate in future.

In his presentation, Dr Shaikh focused on the global economic challenges and also spoke on Pakistan's economic potential and policies.

The Atlas of Economic Complexity, an index conceived by experts, lays out parameters for determining and predicting growth potential of countries and takes into account such dimensions as manufacturing ability, diversity of the economy and collective capacity of the people to work in diverse areas to bolster and maximize financial and economic benefits for their country.

Copyright APP (Associated Press of Pakistan), 2011