LOS ANGELES: Pakistan Ambassador to the United States Masood Khan has said that there have been positive developments in Pakistan-US relations and the leadership of the two countries have decided to collaborate more closely in the economic realm encompassing trade, investment, alternate energy, health, agriculture and tech industry.
Also read: Pakistan-US relations on path of holistic growth: Masood Khan
Addressing prominent members of Pakistani American community on his first official visit to Los Angeles, he said the momentum in Pak-US relations provides a window of opportunity to investors to strengthen economic partnerships between the two countries.
Ambassador Masood Khan said the diaspora could play an important role by scaling up their businesses in Pakistan, calling upon them to play their role in increasing exports of IT products and services from Pakistan to the United States.
Ambassador Masood Khan noted that despite odds, trade volume between the two countries is growing as Pakistan’s exports to the U.S. jumped from 7 billion dollars to 9 billion last year.
Also read: Ambassador Masood Khan urges UN to appoint special envoy on Kashmir
On the occasion, the Ambassador highlighted the steps taken by the Government to improve business and investment climate in Pakistan, including liberalization of regulatory regimes, streamlining taxation and facilitating repatriation of funds. He noted that last year the US direct investment in Pakistan was 257 million of Foreign Direct Investment in Pakistan, while 203 million dollars in profits had been repatriated.
He said that Pakistan, despite some challenges, is emerging as an economic hub in the region. Pakistani Americans can play an important role in building confidence in Pakistan’s economy by investing in key areas including IT, alternative energy, and agriculture, manufacturing and healthcare.
