August 10, 2003	Sunday	Jumadi-us-Sani 11, 1424

KARACHI, Aug 9: Managing Director, South Asia Affairs, International Division, US Chamber of Commerce, Washington, Dr Herbert J. Davis has said trade and investment framework agreement (TIFA), signed by US and Pakistan during the last visit of President Pervez Musharraf would eventually lead to signing of free trade agreement (FTA) between the two countries.

Now Pakistan stands a good chance to have the TIFA converted into FTA within a reasonably short period of time. FTA would put Pakistan in very privileged position for securing desired market access for exports of its goods and services to the US, he said in a dinner reception hosted by the FPCCI on Friday.

He said he was very pleased to note that most of the macroeconomic indicators are showing positive signs in Pakistan, says an FPCCI press release.

Dr Davis made a comprehensive presentation on factors considered by the US Chamber of Commerce for advising its members on investment around the world. He specified the following 12 criteria for international investment by US entrepreneurs:

Size of internal market, freedom of access to the market, labour force and raw materials, protection from currency devaluation, remittance of dividends, interest, royalties and technical assistance payments, property rights protection, export potential, regulatory burdens, favourable taxation and tax incentives, low political risk, predictable macroeconomic management and reliable infrastructure support.

He said Pakistan scored well on most of the above criteria. Responding to a question by Tariq Sayeed, ex-FPCCI chief, Dr Davis said that according to US Chamber of Commerce, the last visit of General Musharraf to the US was highly successful.