WASHINGTON, Sept 29: The United States Chamber of Commerce will launch US-Pakistan Business Council on Monday to promote trade between the two countries and to foster a greater awareness of business opportunities in Pakistan.

“The goal is to generate increased foreign direct investment in the country,” Finance Minister Shaukat Aziz told Dawn on Sunday.

He said: “The council will bring together Pakistani and American business leaders and provide a forum for constructive discussions of business conditions and policy-related issues.”

Although Pakistan has had trade relations with the United States for more than 50 years, the US-Pakistan Business Council will provide an institutionalized framework to foster this relationship.

“There’s an interest in Pakistan despite political instability and religious violence,” said Herbert H. Davis, managing-director for South Asian Affairs at the US Chamber of Commerce.

Mr Davis, who will also be the executive director of the council, observed that “investments can be generated in troubled areas as long as political alliances are favourable.”

More than 25 US companies will be attending the inaugural meeting on Monday, including such major business concerns as Boeing, Citicorp, Coca Cola, Touchdown Software, Pepsi and several pharmaceutical giants.

“US companies are showing interest in energy, financial, IT and defence sectors,” Mr Davis said, adding that the companies included those who already had investments in Pakistan as well as those which were currently exploring the country.

“They are aware that this is not the best of time for Pakistan but they hope that the situation will improve soon,” he added.

The US Chamber of Commerce is the leading business association in the United States with three million members across the country.

Waseem Haqqi, chairman of the Board of Investment, Pakistan, has come to Washington with a 20-member delegation to attend the inauguration and will address the plenary session.