ISLAMABAD
Prime Minister Muhammad Nawaz Sharif Monday stressed upon availing of existing trade and investment opportunities between Pakistan and the United States for the mutual goal of their enhanced partnership.
The Prime Minister, in a ceremony prior to the launch of Pakistan-United States Economic Partnership Week here, said the US had been a valuable partner in Pakistan's endeavours for national development and for regional peace, stability and prosperity. "A broad-based, stable and enduring Pak-US partnership-founded on the principles of mutual respect and mutual interest - is of paramount importance," he added.
He urged the participants from both countries to avail this opportunity towards creating important business linkages and working towards the mutual goal of enhanced trade and investment partnership.
Nawaz Sharif said the Economic Partnership Week reaffirmed the commitment that President Obama and he had made during his visit to Washington in October 2013.
"It is the commitment of two democracies to deepen our economic engagement by expanding trade and investment," he added.
He said the common commitment to an expanding role for private sector-led growth and job-creation provided a wealth of opportunities for growing trade and investment between the two countries. He was delighted to note that these opportunities were being seized with the support and encouragement of both governments, he added.
Appreciating the presence of US Secretary of Commerce Penny Pritzker, he said it had boosted confidence of businessmen and investors from the United States and Pakistan to contribute to the shared prosperity. Referring to the Pak-US ties, the Prime Minister said relations with the United States constituted an important element of Pakistan's foreign policy.
The relationship spanning more than six decades was robust and wide ranging, he said, adding "Over the past 68 years, our two nations have travelled a long distance together - as friends and allies in defence of freedom and in pursuit of international peace and security. Besides shared history, we are bound by a shared commitment to democracy."
About his government's priorities, the Prime Minister said the economic revival had been an important pillar in policy strategy of his government that was elected in May 2013.
"Pakistan is leading several strategic initiatives to build trade, energy and communications corridors linking South Asia, West Asia, Central Asia and China. Regional integration will accelerate economic growth and prosperity in this part of Asia, and beyond," he maintained.
"We have made these economic gains in the face of grave challenges of energy shortages and violent extremism," he said, adding that his government attached the highest priority to the energy sector.  He said that the United States was a valuable partner in Pakistan's quest for energy security.  The Prime Minister said that more than 1700 megawatts had already been added to the national grid while work was in progress on several major hydropower and hydrocarbon projects and expressed the hope that it would relieve energy shortages substantially by the end of 2017.
He expressed the confidence that the Economic Partnership Week would open new avenues of trade and investment cooperation between the two nations.
US Secretary of Commerce Penny Pritzker said the Partnership Week would promote Pakistan as destination of global partnership.
Meanwhile, The US Commerce Secretary, Ms Penny Pritzker said here Monday that US companies wished to expand business in Pakistan and the Pak-US Business Opportunities Conference was a good avenue for furtherance of this objective.
Penny Pritzker along with US Ambassador to Pakistan, Richard G. Olson met the Finance Minister, Ishaq Dar exchanging views on enhancement of trade and business cooperation.
Matters relating to issuance of visas, especially to US businessmen came under discussion as Ms Pritzker emphasized facilitation in this regard would help promote business to business contacts. The minister said established US business/commercial should not have any difficulty in securing visas for Pakistan and even generally, all visa requests were considered as provided under rules. Assuring his support, he sensitized the Pakistan Ambassador to US, Jalil Abbas Jilani about the matter.
The minister shared important economic indicators with the US Commerce Secretary and said Pakistan's economy was now stable. He said the government particularly focused on resolving the energy projects as it was the foremost requirement for overall economic development.
In response to Ms Pritzker's query on ease of doing business, the minister said a number of measures had already been taken to this effect and that BOI was contributing effectively in this sphere. He particularly mentioned simplification in procedures for tax payment and added that more such measures would be taken in future.  There was also discussion on Pak-Afghan economic cooperation.