US trying to build Pak soft image: Patterson

LAHORE - US Ambassador to Pakistan Anne W Patterson has said America is immensely interested in the economic well-being of the country, and certain steps are being taken to expedite the boost up economics. She was addressing the first anniversary dinner of the American Business Forum here on Saturday. Anne Patterson mentioned that the commerce section of the US Embassy was planning to have series of business exchanges with the Pakistani businessmen, as Pakistan remained an attractive place for business despite certain problems. Pointing out various steps for enhancing business with Pakistan, she revealed that an effort was being made for finalising the Bilateral Investment Treaty with Pakistan. We are aware that Pakistans export has got adversely affected due to terrorism, she added. The Ambassador also told the audience that the US was trying to get the opportunity zone bill passed by the Congress soon. Access to market is a huge problem for Pakistan. The US is trying to get Pakistan access to the markets not only in the US, but also in the other friendly countries, she said, adding that America was also to contribute towards the soft image of Pakistan. Nevertheless, Anne Patterson also pointed out the problems, which were causing damage to the business in Pakistan. She mentioned that power, the taxation, regulatory infrastructure and intellectual property rights were the problematic areas. She also talked about the non-military assistance to Pakistan. Earlier, Sardar Zulfiqar Ali Khan Khosa, Senior Advisor to Chief Minister Punjab - representing CM in his absence - was quick to welcome the gathering and say 'thank you as well. His was certainly the shortest 'speech of all. Speaking on the occasion, Rizwan U Khan, the first president of the American Business Forum highlighted the fact that the US was Pakistans largest trade partner, with American companies in Pakistan contributing approximately Rs 18 billion to the national exchequer every year; roughly 3 percent of the total income of the Federal Board of Revenue. He went on to say that during financial year 2008-09 the cumulative foreign direct investment from the US to Pakistan was over US$ 466 million, whereas the total investment of US companies in Pakistan was about $ 1.35 billion, which has created about 40,000 direct and 150,000 indirect jobs. The ABF president also thanked the federal government and the government of Punjab, for their support and understanding, which he said was required on an ongoing basis for the ABF to be able to 'do more. He further reiterated that the Forum would continue working towards enhancing US Pakistan trade and investment relations, while urging its own members to expand their corporate social responsibility portfolios to strengthen Pakistani society. On the occasion, US officials, prominent businessmen, politicians and bureaucrats were also present including Consulate General Carmella Conroy, Bryan D Hunt, Aitzaz Ahsan and others. The Forum was founded last year to be a representative body of all those US origin businesses in Pakistan, who choose to become members, pledged to do more to actively promote trade, commerce and business between Pakistan and the US.

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