LAHORE, Nov 9: The business community believes that US President Barack Obama in his second term would provide direct access to Pakistani products in US markets at zero duty for strengthening country’s economy that suffered colossal losses since 9/11 debacle.

Founder Chairman Pakistan-US Business Council and Vice President of SAARC Chamber of Commerce and Industry, Pakistan chapter, Iftikhar Ali Malik, said this while greeting Barack Obama on his re-election.

“Pakistan has sustained loss of at least $4 trillion, including $200 billion to its economic sector, in the aftermath of 9/11 and turmoil in Afghanistan,” said Iftikhar Ali Malik.

Last year, on the occasion of 9/11, the US President Barack Obama, had announced $440tr package, and also announced incentives for quick revival of Pakistan’s economy as the country suffered loss of lives, besides destruction of infrastructure and displacement of millions of people during efforts to stamp out terrorism from the region, he added.He said that US Chamber of Commerce President Thomas Donohue and the EU had been supporting Pakistan’s demand regarding duty-free import of products on an urgent basis.

“The US President must announce free market access to Pakistan’s products as already promised by the US Secretary of State, Hillary Clinton, during her last visit to Pakistan,” he said.

He further said that there was a vast scope for US private sector investors to invest, particularly in the agro-power and IT sectors. Adding to that the US Chamber of Commerce (USCC) can play a pivotal role in promoting bilateral trade relations.

“Pakistan is an emerging market, rich in opportunities for American investment, while the US is already an important trading partner,” he said.—APP