‘Pak-US ties to continue despite present tensions’

Multilateral conference scheduled to be held in October.


Express September 26, 2011

KARACHI:


The ongoing challenges in the US and Pakistan’s relationship are temporary and will not undermine the trade and investment climate in Pakistan, said Chairman of the Board of Investment (BOI) and Minister of State for Investment Saleem H Mandviwala.


He said that the two countries have had a long-term relationship in which they have seen several ups and downs; but both countries successfully move forward all the time.

He said this while speaking to the media on Monday where he introduced a multilateral conference – a joint venture of the government and  the private sector – to improve investments in the country.

The conference will attract local and international business communities from Germany, Japan, Russia, Malaysia, Sri Lanka, South Korea, Australia, France, Belgium, Italy and Switzerland to explore new possibilities of investment and joint ventures.

The first multilateral conference will be held on October 20, 2011 in Karachi and will precede the Expo Pakistan, which will take place from October 20-23, 2011 at the Karachi Expo Centre.

Replying to a question, he said that the United States is one of the leading financial providers of this first multilateral conference, which is designed to attract foreign investment into Pakistan.

This conference is the truest form of public private partnership (PPP) to attract investment in Pakistan, Mandviwala said, adding that the foreign business delegations from over 50 countries will come to Pakistan.

The conference is being organised by the bilateral business groups of the above mentioned countries.

The conference will revolve around working groups and focus on five sectors such as infrastructure, engineering, pharmaceuticals, mines and minerals and agriculture and farming.

This is the first time that all these stakeholders will participate at one platform with the unified aim of enhancing investment and trade in Pakistan.

Pakistan-Japan Business Forum President Abdul Kader Jaffer, while speaking about the conference, said that the timing of the conference is very important because “our country badly needs investments to match the fast growth of this region”.

Published in The Express Tribune, September 27th, 2011.

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