The head of Greater New York Chamber of Commerce, Mark Jaffee, expressed strong interest in Pakistan’s textile, leather, surgical, and IT sectors in a meeting with Pakistani Ambassador to the US, Rizwan Saeed Sheikh, at which they discussed initiatives aimed at boosting New York-Pakistan bilateral trade and investment.
Jaffee, who is president and Chief executive officer of the Chamber, also outlined efforts to promote trade and investment between New York and Pakistan and assured his commitment to disseminating information about Pakistan’s upcoming trade events to the Chamber’s extensive network.
On his part, Ambassador Sheikh expressed appreciation for the Chamber’s ongoing collaboration with the Consulate General of Pakistan in New York and thanked Jaffe for his support and interest in Pakistan’s recent 5th International Textile and Leather Exhibition (TEXPO) 2024, held in Karachi last month.
During the meeting, the Ambassador highlighted the pivotal role of Pakistan’s Special Investment Facilitation Council (SIFC) in fostering investment opportunities across multiple sectors.
The Pakistani envoy underscored Pakistan’s liberal investment regime, strategic geographic location, and incentives for foreign investors, emphasizing the benefits for New York businesses seeking to expand their footprint in South and Central Asia. He noted that Pakistan’s Generalized System of Preferences Plus (GSP+) status in the EU and Free Trade Agreement (FTA) with China provide added advantages for investors.
Ambassador Sheikh also held an interactive meeting with New York-based investment bankers, IT professionals, and business leaders at the Consulate General of Pakistan in New York, it said.
The Ambassador underscored Pakistan’s commitment to fostering a business-friendly environment, SIFC’s key role in promoting investment, briefed them on Pakistan’s investment policies and encouraged New York-based businesses to explore Pakistan as a strategic base for expanding operations in the region.
Ambassador assured them of dedicated support from the Embassy and Consulate, offering to facilitate connections with relevant partners and stakeholders in Pakistan.
At the outset, Trade & Investment Counsellor briefed the participants on investment opportunities in Pakistan, covering key sectors including IT, agriculture, mining, and tourism. He highlighted the numerous incentives offered by the Government of Pakistan to attract foreign investment.
During the meeting, students shared their academic experiences and perspectives on how to enhance collaboration between Pakistani institutions and international universities.
