WASHINGTON, D.C.— The U.S. Chamber of Commerce’s U.S.-Pakistan Business Council (USPBC) hosted Pakistan Prime Minister Muhammad Nawaz Sharif October 21, spotlighting the bolstered economic relationship between the two nations coming off a reinvigorated U.S.-Pakistan Strategic Dialogue earlier this year.
“We are honored to host Prime Minister Sharif for his second official visit to the United States,” U.S. Chamber Executive Vice President and Head of International Affairs Myron Brilliant said. “This meeting highlights the strategic relationship our two economies have, and the Chamber is committed to supporting both governments in their work to deepen bilateral economic, trade and investment cooperation.”
The United States is Pakistan's largest trading partner, with two-way trade at $5.1 billion and 16% of Pakistan's exports going to the U.S. in the last year. The United States also remains one of the top sources of foreign direct investment to Pakistan.
“American companies have long seen value in Pakistan’s geographic proximity to regional markets and resources, its large base of domestic consumers, and its vibrant workforce,” said P. Miles Young, USPBC Chairman and Worldwide Chairman and CEO of Ogilvy & Mather. “USPBC will continue to actively work with Prime Minister Sharif’s government to advance the bilateral economic relationship, as we are committed to help bridge the gap between U.S. investor interest and actual investments on the ground.”
“Enhancing the business environment, advancing regulatory reform and structural reforms, and implementing the government’s reform agenda are seen as necessary to attract more investment in Pakistan,” Young said. We also remain hopeful that both governments can re-establish negotiations on a bilateral investment treaty (BIT), which would undoubtedly give greater confidence to potential investors.
About the U.S.-Pakistan Business Council
The U.S.-Pakistan Business Council is the premier organization in Washington dedicated to the broad advancement of U.S. commercial engagement in Pakistan. Since its inception in 2002, the Council has provided a national forum for dialogue on key economic, political and other issues of interest to American companies operating in or exploring business opportunities in Pakistan.
About the U.S. Chamber of Commerce
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations. Its International Affairs division includes more than 50 regional and policy experts and 25 country- and region-specific business councils and initiatives. The U.S. Chamber also works closely with 116 American Chambers of Commerce abroad.
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