US investors explore EV sector in Pakistan

Envoy says technology transfer, easy access to American markets a must to boost trade


Imran Rana January 12, 2021
Automakers have invested substantial sums in electric vehicles. PHOTO: REUTERS

FAISALABAD:

Technology transfer with easy and duty-free access to American markets is a must in a bid to achieve a quantum jump in bilateral trade and in this connection serious efforts are being made by both sides, said US Consul General in Lahore Catherine Rodriguez.

Speaking at a Zoom meeting with Faisalabad Chamber of Commerce and Industry (FCCI) President Hafiz Ihtasham Javed, she said that some American investors were exploring opportunities to assemble electric vehicles (EV) in Pakistan.

She acknowledged that law and order situation had improved considerably in Pakistan and said she would persuade American investors to exploit the new and emerging business opportunities.

While introducing her team, she said that she would try to hold a direct and face-to-face meeting with the Faisalabad-based industrialists dealing with US buyers.

US Commercial Counsellor for Pakistan John Coronado said that the US and Pakistan had deep trading ties, which could be further extended for the benefit of both countries.

Speaking on the occasion, the FCCI president said, “About 70% of textile exports originate from this city while 80-90% of textile units are also housed here.” He added that it was a strategically important and suitable place in the heart of Pakistan for making exports to any country via seaports or through upcountry road links with China and Central Asian states. He said that cheap and abundant skilled labour was available, which made Faisalabad more attractive for new industrialists.

Stressing the need for technology transfer from America, he said “it is the best in the world and we can improve quality of our products in addition to reducing cost of production.”

Published in The Express Tribune, January 12th, 2021.

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