ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) Monday emphasized the urgent need to explore greater opportunities in both conventional and non-conventional markets and products by expanding Pakistan’s presence, particularly in north and south America as well as Pacific countries.
In a press statement President ICCI Nasir Mansoor Qureshi said that these untapped non-traditional markets portray huge trade potential for the country, adding that strengthening regional trade ties is also vital for ensuring the country’s sustainable economic progress and prosperity, especially given the challenging times ahead in the global arena.
He pointed out that Pakistan’s current external economic gains have heavily relied on remittances from overseas Pakistanis, mainly those residing in Gulf Cooperation Council (GCC) countries and the United States. He cautioned that a worsening geopolitical environment could negatively affect the inflow of remittances and foreign direct investment.
“In this context, it is critical for Pakistan to secure some tariff concessions from the United States before the Trump Administration finalizes new average tariffs for the country,” Qureshi stressed.
He added that Pakistan’s economic managers must give full focus to a few critical priorities, including stabilizing the external account and boosting exports, remittances, and foreign investment.
Highlighting the role of the business community, Qureshi affirmed that the ICCI is determined to continue playing a proactive and expanded role in promoting Pakistan’s economic interests. He said the ICCI stands ready to work closely with policymakers to navigate emerging challenges and drive the nation toward sustainable growth and development.
