U.S. Chargé d’Affaires Natalie Baker underscored the importance of strengthening the economic relationship between the United States and Pakistan in her address at the Fifth Pakistan-America Business Forum Summit.
The event, organized by the Pak-America Business Forum and the Rawalpindi Chamber of Commerce and Industry (RCCI), focused on fostering trade and investment as Pakistan navigates its economic challenges and implements crucial structural reforms.
Baker emphasized the vital role of Pakistan’s business community in advancing bilateral economic ties, noting that the U.S. is Pakistan’s largest export market.
“The United States is Pakistan’s largest export market globally – Pakistan sends around 16 percent of its total exports to the United States each year. Pakistan’s exports to the United States have grown substantially over the last decade. This is a testament to the robust economic relationship we share,” she said.
She also highlighted the significant contributions of U.S. companies in Pakistan, pointing out that over 80 U.S. firms directly employ 120,000 Pakistanis, supporting the livelihoods of over a million workers. “These companies bring American values of openness, transparency, and responsible corporate citizenship. These businesses also drive critical research and development and provide new opportunities to local communities,” Baker stated.
Reaffirming the U.S. commitment to Pakistan’s economic future, especially its dynamic youth, Baker said, “I continue to be impressed by the ambitions, ideas, and commitment of Pakistan’s youth … That brighter future includes economic opportunities in technology, business, trade, climate resilience, and security. If Pakistan realizes its potential in areas such as technology, business, trade, climate resilience, and security, the result will not only benefit Pakistan but also the region and the world.”
Baker emphasized that the U.S. Mission in Pakistan, through its Embassy in Islamabad and consulates in Karachi, Lahore, and Peshawar, is working actively to foster two-way trade and investment. “The U.S. Mission is committed to increasing trade and investment to help Pakistan unlock its economic possibilities,” she said, acknowledging the efforts of her team in connecting U.S. and Pakistani businesses, assisting investors, and advocating for necessary policy reforms.
She further recognized the Pakistan-American community as a key partner in enhancing economic ties. “Pakistanis abroad are not only innovative and entrepreneurial – they are committed to giving back to Pakistan. We believe that unlocking the potential of the private sector is pivotal to Pakistan’s transition to a more prosperous future,” Baker stated.
Baker also highlighted the success of initiatives such as the Pakistan Investment Promotion Activity launched by USAID, which has organized Investment Roadshows in cities like Dubai, Riyadh, New York, and Washington, D.C. These efforts have led to substantial foreign direct investment, bolstering bilateral trade.
Additionally, she mentioned the SelectUSA program, aimed at promoting foreign direct investment in the United States, encouraging Pakistani companies to expand their operations. The SelectUSA program is a valuable opportunity for companies like GharPar, a women-led online beauty company from Lahore, which has created nearly 1,000 jobs in Pakistan and is now exploring expansion into the U.S. market,” Baker explained.
Concluding her remarks, Baker reiterated the U.S. Mission’s commitment to supporting Pakistani businesses in seizing these growth opportunities. “I look forward to learning more about your businesses and sharing ideas on where we can collaborate,” she said, emphasizing the importance of continued cooperation to foster prosperity for both countries.
The summit provided a platform for business leaders and stakeholders to discuss avenues for deepening U.S.-Pakistan trade and investment ties, and strengthening the bilateral economic relationship between the two nations.
[…] and community citizenship to the private sector here in Pakistan,” Blome said, noting that more than 80 U.S. companies in the country employ 120,000 Pakistanis, directly and indirectly, support the livelihoods of over one million more […]