Event highlights business opportunities in Pakistan - Daily Times

Event highlights business opportunities in Pakistan

By Our Correspondent

LONDON: The Birmingham Chamber of Commerce, along with the Pakistani High Commission in UK, UK Trade and Investment and Pakistan Britain Trade and Investment Forum (PBTIF), held a UK-Pakistan business promotion event ?Business Opportunities in Pakistan? on Tuesday.

The event highlighted the potential trade and investment opportunities between Pakistan and the United Kingdom in agriculture, information technology, food and beverages, pharmaceuticals, engineering, financial services and education, and was attended by the business community from both the countries. The participants included chief executives of renowned companies, financial institutions and community leaders.

The event was chaired by Pakistan British Trade and Investment Forum Chairman Thomas Harris. The High Commissioner of Pakistan Wajid Shamsul Hassan also participated in the conference. The UKTI Pakistan director and British Deputy High Commissioner in Karachi Francis Campbell had especially flown in to participate in the conference to highlight the growth in trade and commerce between the two countries and the strong potential Pakistan offered for British investors.

Speaking on the occasion, the Pakistani high commissioner discussed the economic potential and geo-strategic importance of Pakistan.

He emphasised that both Pakistan and United Kingdom had always enjoyed good trade relations, and in the fiscal year 2010-2011, Pakistan-Britain bilateral trade had exceeded ?1.3 billion, with an increase in Pakistan?s export by 14 percent. He also informed the participants that there was a 13 percent rise in the foreign direct investment in Pakistan, worth $208 million in the financial year 2010-2011.

He underlined the scope for British investment in Pakistan and informed the participants that despite numerous challenges to the country, its economy was faring well. He said that close bilateral relations between the UK and Pakistan greatly helped promote economic links.

Home | National

View the original article here

Pakistan possesses great opportunities for Chinese investors: Zardari - Nation

President Asif Ali Zardari has said that there are great opportunities for the Chinese investors to take advantage of the special business and investment opportunities being offered by Pakistan. This he said during a meeting with Chairman Asia Investment Houtang Mr. Li Yan here at Aiwan-e-Sadr Thursday. Li Yan's delegation included among others Mr. Chen Qi, DG China Petrochemical Corporation, Mr. Fang Fenglei, Chairman HOPU Investment, Professor Tang and others. Mr. Arif Shah Bukhari, Chairman KASB Finance was also present. Finance Minister Sindh Syed Murad Ali Shah, Special Secretary to the President Major (R) Haroon Rashid, MD Zulfiqarabad Development Authority Lt. Gen (R) Iftikhar Hussain Shah and other senior officials were also present during the meeting. The President during meeting said that Pakistan eagerly awaits Chinese investment in the new city Zulfiqarabad. He said that the proposed city would an engine of growth and would go a long way in generating economic activities. It will give tremendous boost to the social and economic uplift of the area besides creating enormous job opportunities, he said. The President appreciated the Chinese interest in the development of Special Economic Zones in the proposed city project. These Economic Zones would not be confined to industrial and economic activities but would cover the entire range of activities in a modern metropolis.

View the original article here

Envoy urges Americans to invest in Pakistan

Internews/Islamabad

Pakistan’s ambassador to the United States Sherry Rehman has urged American investors to benefit from enhanced business opportunities that Pakistan offers in several potential areas.
Speaking to members of US-Pakistan Business Council, the envoy cited the example of fast-growing telecommunications sector, saying telecom companies were aggressively bidding for a market of 100mn mobile users and others should follow the suit.
She highlighted the fact that a number of American companies were already successfully doing business in the country and contributing to better economic relations.
“The Council can greatly help in dispelling adverse perceptions in the US by narrating their business success stories in Pakistan to their fellow investors, political leaders and opinion makers,” she said at the US Chamber of Commerce.
Islamabad, she said, is committed to providing enabling environment and a level-playing field to international investors and has been rated at the top in South Asia for ease in doing business.
The ambassador said one of the key priorities during her assignment in Washington would remain promoting stronger linkages between the private sectors of the two countries.
Despite the continuing global financial crisis and regional situation, Pakistan last year achieved a 28% increase in exports, which were worth $25bn.
“The positive trends have continued in the last seven months, and other macro-economic indicators are showing hopeful signs.”
“We recognise that we have work to do on infrastructure and we seek your assistance on energy investment,” she added. Rehman also reiterated Pakistan’s interest towards concluding a Bilateral Investment Treaty with the United States.
“A free trade agreement with the US is an important priority for Pakistan. I am sure many people present here are fervent advocates of open market and realise the benefits to be achieved from an FTA between the two countries.”
Pakistan and the United States had a robust trading relationship and the current volume of bilateral trade has doubled to $5.50bn.“While this may be a source of some satisfaction on both sides, we firmly believe that the potential for enhancing trade relations between the two countries is far greater than that was has been achieved so far.”
Welcoming the Pakistani ambassador on behalf of members of the US-Pakistan Business Council, Chairman Miles Young said that despite international financial difficulties, the American companies have made substantial profits and continue to prosper.He said the US was committed to advancing joint business goals together with the Pakistani embassy.

View the original article here