English Press Release 11.01.2021

FAISALABAD.  Technology transfer and easy and duty-free access to American markets is imperative to give a quantum jump to the bilateral trade and in this connection, serious efforts are being made from both sides, said Mrs. Catherine Rodriguez Consul General of the US in Lahore. She was addressing a Zoom meeting with President Faisalabad Chamber of Commerce & Industry (FCC) Engineer Hafiz Ihtasham Javed. It was also attended by noted exporters to the USA.

Appreciating the efforts of Pakistan in controlling environmental pollution, she said that some American investors are exploring opportunities to assemble Electric Vehicles (EV) in Pakistan. She admitted that the law and order situation has improved considerably and she will convince American investors to exploit new and emerging business opportunities in Pakistan. She also introduced her team and said that she will try to hold a direct and face to face meeting with the Faisalabad based industrialists dealing with US buyers. US Commercial Counselor for Pakistan Mr. John Coronado said that the US and Pakistan have deep trading ties which could be further extended for the benefit of both countries. Other members of the US consulate were also present during this Zoom meeting.

Earlier Engineer Hafiz Ihtasham Javed introduced Faisalabad and FCCI and told that this dynamic city is bursting with a population of 3.2 million. It is the third biggest and important city of Pakistan. “Seventy percent textile exports are originated from this city while 80-90 % textile units are also housed in it”, he said and added that it is strategically in the heart of Pakistan and thus it is a most suitable place to make 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 is available which has made it more attractive for new industrialists. Stressing the technology transfer from America, he said that it is best in the world and we could improve the quality of our products in addition to reducing the cost of production. American technology is also imperative to enhance our per acre yield of different agriculture-related commodities. He said that Faisalabad has globally compliant industrial estates. “Fifty percent of M3 Industrial estate has already been colonized while the remaining portion of it is in different stages of completion”, he said and added that the special economic zone is also being developed adjacent to M3 industrial estate which will be most suitable for American investment in the form of joint ventures. Engineer Hafiz Ihtasham Javed told that Pakistani exports to US are around 4.1 billion dollars while imports are 2.6 billion dollar. He categorically said that we need business instead of aid from the US for which American should allow duty free access to Pakistani exports on the pattern of the EU. He also mentioned free trade agreements with China and other countries and said that American should also consider such arrangements to further develop our bilateral trade. The zoom meeting was also attended by Vice President Rana Ayub Aslam Manj,  Syed Zia Alimdar Hussain, Muzammil Sultan, Mughis Khokhar, Kashif Zia and Engineer Bilal Jamil while Senior Vice President Chaudhary Talat Mahmood offered vote of thanks. 

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