Database of Pak-US businesses will lead to exponential growth in bilateral trade & investment: Sardar Masood Khan

WASHINGTON, July 26 (SABAH): Underscoring the need for better networking among the business community of Pakistan and the United States, Ambassador of Pakistan to the United States Sardar Muhammad Masood Khan has said that work was in progress to establish a database of Pak-US businesses to promote business ventures from either side. “Collation of this data will lead to exponential growth in bilateral trade and investment,” he said.

“Thousands of Pakistani Americans are investing in real estate, hospitality, healthcare, pharmaceuticals, diagnostics, medical transcription and billing and training of the work force and others. Once a company is there, it finds Pakistan very profitable,” he said.

He said that a strong interface between US business councils with Federation of Pakistan Chambers of Commerce & Industry (FPCCI), American Business Council (ABC) and Pakistan Business Council (PBC) will unlock new business ecosystems. “While we should facilitate the existing businesses, we must encourage new enterprises to invest in the vast market of Pakistan and its neighborhood,” he said

The Ambassador made these remarks while talking to Peter Tichansky, President & Chief Executive Officer of Business Council for International Understanding (BCIU) at the Embassy of Pakistan Washington DC.

BCIU offers commercial diplomacy services to the governments and leading organizations, from Fortune 100 companies to global investors and multilateral institutions. It promotes international understanding and expands global trade and commerce through a combination of dialogue and action.

Discussing Pak-US business relations, Ambassador Masood Khan highlighted the presence of renowned US companies in Pakistan which were undertaking profitable business ventures in the country.

He especially highlighted the financial support being provided by Venture Capital Funds from the Bay Area to the whole range of Pakistani startups including FinTech, MedTech, EdTech, AgriTech, transportation networks etc.

“The economy of Pakistan is being digitized at an immense pace. This has created huge opportunities for the business community in Pakistan and regionally,” he said.  Another area, he said, was agriculture. He said that the United States has launched ‘Green Alliance’ program in Pakistan that encompasses green energy, weather resistant high yield seeds, and promoting university to university partnerships. “Our two countries are cooperating in genetic engineering. This has a huge potential,” said the Ambassador.

The Ambassador observed that foreign direct investment (FDI) from the US must match full potential of our burgeoning economic partnership.

Peter Tichansky briefed the Ambassador about BCIU’s network and its activities across the globe. He said that BCIU believed in promoting commercial diplomacy and people-to-people exchanges to serve as the foundation of robust international understanding.

On BCIU’s facilitation in creating linkages between the business communities, Peter Tichansky said that 200 US companies were affiliated with the organization and were spread throughout the United States.

The Ambassador invited President BCIU to take a delegation of US business community to Pakistan allowing them to witness the existing market potential and the available business opportunities.

He also offered all possible assistance of the Embassy of Pakistan and its Consulates in facilitating linkages with relevant trade bodies and business houses of Pakistan.

Meanwhile Ambassador Masood Khan on Wednesday spoke with Dr. Zenab Mansoor, a Pak-origin pediatric physician currently residing in Seattle Washington, who recently summited Mount Everest, the highest mountain of the world.

Summiting the highest mountain of the world symbolizes human determination, perseverance and the spirit of exploration.

Dr. Zenab Mansoor is among the trailblazing women of Pakistan, the third Pakistani woman, to summit the iconic mountain. Earlier Ms. Samina Baig and Ms. Naila Kiani had scaled the highest summit of the world.

Sharing her story of rigorous training and steady resolve to ascend to Mount Everest, Dr. Zenab said that she had been preparing herself for five years, and before that from her childhood, to realize that dream. She said she had scaled five out of seven highest peaks on all the seven continents including Kilimanjaro in Africa, Elbrus in Europe, Denali in North America, Vinson in Antarctica and now Everest in Asia.

“I felt proud raising the flag of Pakistan on top of Mount Everest,” she said while sharing her joyous accomplishment with the Ambassador.

Felicitating her on the feat, Ambassador Masood Khan congratulated her on her spectacular achievement and said that she has made the country proud with her accomplishment.

“Your achievement showed the immense potential of Pakistani women. This makes Pakistan proud and sets a high bar for future generations, especially girls, to dream without limits,” he said.