28 March 2004	Sunday	06 Safar 1425

ISLAMABAD, March 27: Speakers at a seminar have stressed the need for a greater cooperation between Pakistani and American businessmen to manufacture quality goods for their consumption in both countries.

The speakers at the seminar organized by Pak-American Business Association (PABA) here on Saturday say that more interaction will not only improve quality of products, but will further strengthen trade and economic ties between the two countries.

Director and former president of PABA, Dr Maqsood Ahmad Chaudhry in his presentation laid emphasis on quality control in pharmaceutical industry. He mentioned that there was no reason not to make best quality generic medicine with the resources available in Pakistan.

"Generally it takes a lot of efforts in the form of research and development by the pharmaceutical industry to make a new chemical/medicine. This process is time consuming, very costly and require a lot of efforts," he said.

If each medicine has patent between five and 10 years, and once patent expired it was time that generic medicine could be made, he said and added that generic medicine was less expensive and easy to produce and it had same effect as the brand name.

Crescent Financial Trust Inc. chief executive Zahida Jamshaid Shah said that Pakistani businessmen in America were doing a wonderful job by taking part in economic activities and projecting country's positive image in the comity of nations.

She said that the process of restructuring in Pakistan would result in attracting more foreign investment. She said with improved relationship between Pakistan and the US would result in increase of bilateral trade.

Founder and executive director of PABA, Siddique Sheikh said: "We have witnessed a positive change in Pakistan this time around."

He said the PABA strived hard to provide and guide in all facets of business activities to its members and special business services to the business community.

Mr Sheikh said development of business relationship between the United States and Pakistan business community was the foremost priority of the PABA.

Besides, he said, it strives for promotion of export material from Pakistan to America and enhancing the exchange of technology between the two countries. Founded in 1986 in the US, the PABA has a membership of 600 businessmen. In addition, PABA offers networking, business development, education and career development opportunities to its members.