Hillary urged to help access US markets

LAHORE (APP) - Business community Wednesday urged US Secretary of State Hillary Clinton who is currently visiting Pakistan to help provide direct access to Pak products in US markets. Pakistan has already suffered overall loss of dollars 1.60 trillion including $65b to its economic sector in the aftermath of 9/11 debacle and turmoil in Afghanistan, said Founder chairman Pak-US Business Council and VP SAARC Chamber of Commerce and Industry, Pak chapter Iftikhar Ali Malik talking to APP here. Iftikhar said that more than three million Afghan refugees are staying in Pakistan, which is also tremendous economic burden on the country. He said that entire Pakistani nation including business community under the dynamic leadership of President Asif Ali Zardari and guidance of PM Yousaf Raza Gilani, stand united against the menace of terror and fully committed to defeat it. He said due to war on terror, Pakistans national economy is suffering tremendously rendering jobless thousands of people. In the prevailing scenario, United States must provide direct market access to Pak products on zero rate duty to help stabilize the countrys bleak economy instead of any grant or aid. He said The US should buy back products from industrial zones in Pakistan and help strengthen the existing industrial zones with the provision of modern infrastructure. Observing that due to the unrest and turmoil in a neighbouring country, a major chunk of Pak food stock is smuggled to Afghanistan, which ultimately leads to acute foodgrain scarcity within Pakistan. The current economic crisis looming worldwide has especially impacted the poor countries, he added. He said there is vast scope for US private sector investors in every sectors, particularly in the agri, power and IT sectors, adding that the US Chamber of Commerce (USCC) can play a pivotal role in promoting bilateral trade relations. Pakistan is an emerging market rich in opportunities for American investment, while the US is already an important trading partner he said.

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