LAHORE: Energy, taxation and bureaucratic hurdles to businesses came under discussion during over an hour long meeting between Political & Economic Chief of US Consulate Lahore Erik Martini and the LCCI President Ijaz A. Mumtaz here at the Lahore Chamber of Commerce and Industry.
The LCCI President Ijaz A. Mumtaz said that economic stability of Pakistan through prompt direct market access to US is a must as economically prosperous Pakistan would be more beneficial for the United States.
The LCCI President urged the US government to help Pakistan overcome the energy crisis. He said that Pakistan needs extra-ordinary cooperation from the United States.
“If the United States comes forward at this point in time when the country is passing through unprecedented challenging times, the trade, economic and cultural ties between the two countries would flourish further”, Ijaz A. Mumtaz added.
He said that the Lahore Chamber of Commerce and Industry was putting in its best efforts for promotion of trade and economic prosperity.
He said that it goes without saying that America tops among the major trading partners of Pakistan and there are many areas including political, social, economic, defence and etc., in which both countries collaborate and cooperate with each other. A significant volume of Pakistan’s exports find their way to US markets and likewise Pakistan imports fairly large amount of goods from America.
He said that considering the historic relations of both the countries and the critical role of America in the economy of Pakistan, we wish to expand these ties for our mutual benefits.
The offices of Lahore Chamber and US Consulate are maintaining close working relations since long.
He commended the role being played by US Consulate in developing working relations with various segments of the society. It includes educational institutes, business support organizations, local government offices, NGOs, provincial as well as federal organizations.
Ijaz A. Mumtaz said that both countries have to find new ways of expanding the level of trade and economic cooperation. He said that USA has been a very important trading partner of Pakistan since decades. He said that there are very few countries against whom Pakistan experiences favourable balance of trade.
“Business to Business contacts hold key to exploit the untapped potential of trade. For that matter, frequent exchange of trade delegations is very important”, the LCCI President said.
He said that transfer of technology is another way to improve the current situation. The interaction of Chambers of Commerce & Industry of the two countries can be instrumental in this connection.
Political and Economic Chief, US Consulate, Lahore Erik Martini assured the LCCI President Ijaz A. Mumtaz of his fullest support for expediting bilateral trade and economic relations between the United States and Pakistan.
