US, Pakistan Strengthen Economic Ties at Business Forum Summit
Chargé d'Affaires Baker highlights achievements, future prospects of Pakistan-US economic partnership
ISLAMABAD:Speaking at the Fifth Pakistan-America Business Forum Summit, Chargé d’Affaires Andrew Baker emphasized the importance of US Pakistan economic ties and the role of private sector collaboration in fostering growth and resilience in both nations.
Organized by the Pak America Business Forum and the Rawalpindi Chamber of Commerce and Industry, the summit brought together leaders, entrepreneurs and investors to explore opportunities to deepen bilateral trade and investment.
In his address, Baker underscored the significance of the United States as Pakistan’s largest export market, accounting for 16% of its total exports. Over the last decade, US Pakistan trade has grown substantially, driven by strong partnerships and American investments that have contributed to job creation and community development.
“Over 80 US firms in Pakistan directly employ 120,000 people and indirectly support over a million livelihoods,” Baker stated, highlighting the values of transparency, innovation and responsible corporate citizenship that these businesses bring.
He also acknowledged Pakistan’s potential, particularly its dynamic young population and emerging opportunities in technology, trade, climate resilience and security. “We believe that unlocking the potential of the private sector is pivotal to Pakistan’s growth and we are committed to supporting this transformation,” Baker said.
Key initiatives like USAID’s Pakistan Investment Promotion Activity were spotlighted, which have facilitated foreign direct investment and bolstered bilateral trade by millions. Baker also encouraged Pakistani businesses to engage with programs like SelectUSA, which promote investment in the United States.
Concluding his remarks, Baker urged the Pakistani diaspora and local business leaders to take advantage of the opportunities presented by these initiatives to strengthen the US Pakistan partnership.
“This summit is a testament to our shared commitment to a brighter, more prosperous future for both our countries,” Baker noted.
The summit served as a platform for fostering new collaborations and reaffirming the critical role of economic diplomacy in the bilateral relationship.
