American envoy underlines innovation as key to growth in Pakistan

Says both countries should work towards improving investment climate

ISLAMABAD: US Ambassador David Hale has reiterated the country's commitment to Pakistan's development and has stated that the two countries are closely aligned.

According to Hale, the key to Pakistan's economic development is sufficient emphasis on innovation.



He said this at the opening of the two-day 'Leaders in Islamabad Business Summit' organised by the Nutshell Forum in collaboration with the Ministry of Planning, Development, and Reform in Islamabad.

Ambassador Hale further said that the countries should work towards fostering economic growth, increasing bilateral trade, improving the investment climate, protecting intellectual property and promoting entrepreneurship.

Highlighting the untapped potential for growth in the US-Pakistan economic relationship, Ambassador Hale observed that American companies are increasing their presence in Pakistan.

The envoy added that from some of our largest manufacturers and infrastructure companies, to small and medium services companies, the American private sector sees Pakistan as an increasingly attractive market.

"American business leaders praise the quality of people that they work with, and the interest that Pakistan's business community has shown in American products."  He added.

"The biggest challenge for Pakistan as well as for America and all other economies is for governments to be flexible enough to facilitate and support the new business models and innovations that entrepreneurs are developing in such a fast-changing global economy."

Hale added that the summit participants share a fundamental desire for stability and prosperity, and there are opportunities in business and beyond to 'innovate for the future'.



"These ties are built in many ways, including through business, trade and exchange programmes. We are very proud of the large community of alumni of our exchange programmes," Ambassador Hale said. More than 600 delegates from Pakistan, China, Bahrain, Canada, Qatar, the UAE and United States attended the business summit that featured debates, dialogue, cross-cutting discussions, music and local cultural performances.

Published in The Express Tribune, April 8^th, 2017.

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