19 January 2004	Monday	26 Ziqa'ad 1424

ISLAMABAD, Jan 18 : The United States Chamber of Commerce is encouraging American businessmen to invest in Pakistan in various sectors and also asking the US government to soften the travel advisory.

Addressing a press conference here on Sunday, Managing Director, South Asia Affairs of the US Chamber of Commerce, Dr Herbert J. Davis urged the Pakistani government for early implementation of intellectual property rights laws, which was a major concern of American businessmen.

He said that in this connection a US business delegation consisting of representatives from the telecommunications, information technology and energy sectors, and keen to invest in these areas, is scheduled to visit Pakistan in March 2004.

Mr Davis said that Pakistani surgical goods are popular in the US markets, and there was a possibility of joint ventures in the IT sector, software and the US companies were looking for joint ventures in many other areas as well.

Answering a question, he said that the US chamber favoured a Free Trade Agreement (FTA) with Pakistan as it would certainly promote trade relations between the two countries.

He said that in the last two years, the US government interest is growing in South Asia particularly in Pakistan following the 9/11 incident. This is clear from the fact, that the US chamber has appointed, Ms Esperanza Gomez, as executive director of US-Pakistan Business.

Speaking on the occasion, Ms Gomez said that she would work closely in coordination with all the chambers of commerce and industry in Pakistan for exchange of information on trade and investment.

She said that currently she is visiting Pakistan to create contacts with Pakistani officials and the private sector people to get their feedback and identify areas for American investment.

Answering a question, Mr Davis said that Pakistan would not lose its market share for textile products following the abolishing of textile quotas from January 2005.

The executive director said Pakistan is an open place for investment and it deserves the attention of foreign investors. During the visit of President Pervez Musharraf a pact called the Trade and Investment Facilitation Agreement (TIFA) was signed, which would facilitate investment between the two countries. He said the first meeting of the TIFA council is scheduled to be held in March.

He said "Washington in particular, is very much interested in the recent talks held between India and Pakistan. It considers that dialogues are very essential for peace, development and maintaining stability in the region". These talks may prove to be the precursor of lasting peace in the days to come. He said that it would not only be good for their respective countries but would also be better for other countries of the region. To another question, he said the US chamber has a commitment to do more business with Pakistan.