Economy to take off in a couple of years
US diplomat says misconceptions about Pakistan fading away.
LAHORE:
Pakistan’s economy is going to take off in a couple of years as misperceptions about the country are fast fading away, says US Commercial Counsellor Brian McClreary.
During a visit to the Lahore Chamber of Commerce and Industry (LCCI) on Tuesday, McClreary said Pakistan had vast potential to become a developed economy, but it was only suffering because of lack of technology and the US was keen and taking measures to remove the hurdles coming in the way of expanding Pak-US economic relations.
The diplomat said the US embassy in Pakistan was making efforts to highlight Pakistan’s potential so that US businessmen could make investment in the sector of their choice.
Describing Pakistani entrepreneurs as very creative, he said, “we all need to do a better job collectively to create more success stories and the embassy is ready to extend cooperation.”
Speaking on the occasion, LCCI Vice President Saeeda Nazar underscored the need for a free trade agreement between the two countries and asked the US policymakers to give some attention to this area.
LCCI is planning to send a sector-specific delegation to the US in May to take part in the International Franchises Expo.
Exports to the US, the biggest trading partner of Pakistan, ranged from $3.7 to $3.9 billion per year over the past four years. “We do have greater capacity to increase exports to $5 to $6 billion but it requires not only greater access to the US market but also some transfer of technology,” she said.
Published in The Express Tribune, February 1st, 2012.
Pakistan’s economy is going to take off in a couple of years as misperceptions about the country are fast fading away, says US Commercial Counsellor Brian McClreary.
During a visit to the Lahore Chamber of Commerce and Industry (LCCI) on Tuesday, McClreary said Pakistan had vast potential to become a developed economy, but it was only suffering because of lack of technology and the US was keen and taking measures to remove the hurdles coming in the way of expanding Pak-US economic relations.
The diplomat said the US embassy in Pakistan was making efforts to highlight Pakistan’s potential so that US businessmen could make investment in the sector of their choice.
Describing Pakistani entrepreneurs as very creative, he said, “we all need to do a better job collectively to create more success stories and the embassy is ready to extend cooperation.”
Speaking on the occasion, LCCI Vice President Saeeda Nazar underscored the need for a free trade agreement between the two countries and asked the US policymakers to give some attention to this area.
LCCI is planning to send a sector-specific delegation to the US in May to take part in the International Franchises Expo.
Exports to the US, the biggest trading partner of Pakistan, ranged from $3.7 to $3.9 billion per year over the past four years. “We do have greater capacity to increase exports to $5 to $6 billion but it requires not only greater access to the US market but also some transfer of technology,” she said.
Published in The Express Tribune, February 1st, 2012.