Masood highlights SIFC role in Pak-US trade ties

Ambassador says strong ties with China not at expense of the US

WASHINGTON:

Pakistan-US relations are strengthening in both security and non-security areas, with a special focus on investment and trade cooperation that emphasise the utility of the recently launched platform of the Special Investment Facilitation Council (SIFC), Ambassador Masood Khan has said.

"We must be partners ... we must continue to talk to each other and resolve issues that would hinder peace and security in the region, but, more importantly, we must develop people-to-people contacts and increase economic cooperation," the Pakistani envoy told a large audience at the prestigious University Club in Washington DC.

The club's International Committee had invited Ambassador Masood to speak on a wide array of subjects.
The audience comprised members of the think-tank community, businessmen, entrepreneurs, opinion makers and the media.

Highlighting the importance of Pak-US relations, the ambassador cited the presence of 80 US companies in Pakistan, saying that the US has a standing advantage because of it's companies' experience in Pakistan spanning decades and their existing investment infrastructure in the country.

In the field of education and technology, he termed the recently renewed Pakistan-US Science and Technology Cooperation Agreement transformative and stressed that its potential should be fully utilised for higher education, research and development, and technological collaboration.

Identifying the sectors of agriculture, energy, IT and mineral extraction, Masood showcased the tremendous potential for investors to invest in Pakistan through the SIFC.

"We also need to collaborate in the realm of renewables, healthcare, education and IT sector, particularly in the field of Artificial Intelligence (AI).

The IT sector is transformative for Pakistan, and the US, particularly tech entrepreneurs and major capitalists, are heavily investing in Pakistan, he reiterated. Ambassador Masood also spoke about Pakistan-India relations and the importance of dialogue to resolve long-standing issues, including the resolution of the Jammu and Kashmir issue, in accordance with the United Nations Security Council resolutions.

"The quest for peace must continue. And our stance has been that we should resolve the outstanding issues between India and Pakistan through dialogue," he said. Both Pakistan and India, he noted, were headed towards elections.
"Let's hope that a new leadership in both countries explores diplomacy to address outstanding issues."

Underscoring the need for strategic balance in the region, Masood emphasised responsible nuclear stewardship from all the states to ensure security for all.

He said that Pakistan had strong ties with China which were not at the expense of the US.

"For the stability of international order, we must commit ourselves to the international humanitarian law," he said.