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US urged to provide market access

Thursday, 29 Oct, 2009
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Vice-president Saarc Chamber of Commerce and Industry Iftikhar Ali Malik proposed to the US Secretary of State to assist in stabilising Pakistan’s economy. – Photo by AP.

LAHORE: Business community on Wednesday urged US Secretary of State Hillary Clinton, currently visiting Pakistan, to help provide direct access to Pakistani products in the US markets.

‘Pakistan has already suffered a total loss of $1.60 trillion, including $65 billion to its economic sector in the aftermath of 9/11 and war in Afghanistan,’ said founder chairman Pak-US Business Council and vice-president Saarc Chamber of Commerce and Industry Iftikhar Ali Malik.

He said that more than three million Afghan refugees were staying in Pakistan, which is also a tremendous economic burden on the country.

He said due to war on terror, Pakistan’s economy was suffering heavily rendering thousands of people jobless.

In the prevailing scenario the US must provide direct market access to Pakistani products on zero rate duty to help stabilise the country’s bleak economy instead of any grant or aid.

He said the US should buy back products from industrial zones in Pakistan and help strengthen the existing zones with the provision of modern infrastructure.

He said there was vast scope for US private sector investment in every sector, particularly in the agriculture, power and IT, adding that the US Chamber of Commerce can play a pivotal role in promoting bilateral trade relations. — APP


Tags: hillary clinton,us,economy,chamber of commerce
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