LAHORE-A delegation of Pak–America Business Forum led by its President Riaz Hussain called on Lahore Chamber of Commerce and Industry (LCCI) President Irfan Iqbal Sheikh on Tuesday. LCCI Vice President Mian Zahid Jawaid Ahmad, executive committee members Haji Asif Sehar, Fayyaz Haider and Haris Attiq were also present.

Irfan Iqbal Sheikh said that Pakistan was a land of opportunities for the foreign investors and it was right time for investment in pharmaceuticals, leather, light engineering, surgical instruments, processed food, financial services, retail sector, agriculture technology, poultry and meat. He said that Pakistan and United States were steady trading partners.

“USA comes at 1st and 4th place respectively among the top exporting and importing countries for Pakistan around the globe. USA happens to be the biggest export market for Pakistani products and in 2018, almost 16% of our exports made their way to US market”, he said, adding, from 2016, trade volume improved from 5.4 billion dollars to 6.4 billion dollars and reached 6.8 billion dollars in 2018.

He was of the view that it has the potential to get doubled through favorable policy initiatives. He hoped that interaction between Pakistani and American businessmen would go a long way in further strengthening the trade and investment relations between both the countries. He also emphasized the need of direct market access for Pakistani exporters.

He said that textile was the largest export sector to US from Pakistan. “We have the potential to double or triple our export of this sector immediately by just giving direct access to US retailers and by encouraging value addition”, he said.

Riaz Hussain said that PABF’s mission was to foster, develop, and expand the strategic business alliance between the US and Pakistan and contribute to the accurate depiction of the Pakistani business environment.