New York: Greater New York Chamber of Commerce President Mark Jaffe on Friday showed strong interest in Pakistan’s textile, leather, surgical and IT sectors during a meeting with Pakistan’s Ambassador to the United States Rizwan Saeed Sheikh.
They discussed initiatives to boost bilateral trade and investment between New York and Pakistan, according to a press release issued by the Pakistani Embassy.
Jaffe, who is the Chamber’s President and CEO, spoke about efforts to promote trade and investment between New York and Pakistan, and committed to disseminating information about upcoming trade events in Pakistan on the Chamber’s wide network. Ambassador Sheikh expressed his appreciation for the Chamber’s continued cooperation with the Consulate General of Pakistan in New York and GAVI’s support and interest in the 5th International Textiles and Leather Exhibition (Texpo) 2024 held in Karachi last month.
He invited the Chamber to participate in the 4th Engineering and Healthcare Exhibition scheduled to be held in Lahore in April 2025. During the meeting, the Ambassador highlighted the pivotal role of the Private Investment Facilitation Council of Pakistan (SIFC) in promoting investment across multiple sectors.
He emphasized Pakistan’s liberal investment regime, strategic geographic location and incentives for foreign investors, emphasizing the benefits for New York companies seeking to expand their presence in South and Central Asia. He noted that the EU’s Generalized Program of Preferences (GSP+) status for Pakistan and the Free Trade Agreement (FTA) with China provide additional benefits to investors.
“The two sides concluded the meeting with a shared determination to enhance cooperation and further enhance trade relations between New York and Pakistan,” the press release added. Sheikh also held an interactive meeting with New York-based investment bankers, IT professionals and business leaders at the Consulate General of Pakistan, the statement said.
The meeting was attended by Consul General Amer Ahmed Atuzay and Trade and Investment Advisor Adnan Mahmoud Awan.
The Ambassador emphasized Pakistan’s commitment to promoting a business-friendly environment and the key role played by the Singapore International Financial Center in encouraging investment.
He briefed them on Pakistan’s investment policies and encouraged New York-based companies to explore the South Asian country as a strategic base to expand their operations in the region.
During the interactive session, participants expressed their strong interest in exploring investment opportunities in Pakistan while highlighting the challenges faced in business dealings.
The Ambassador assured them of the support of the embassy and consulate, and offered to facilitate communications with relevant partners and stakeholders. The trade and investment advisor briefed the participants on investment opportunities covering key sectors such as information technology, agriculture, mining and tourism. He highlighted the numerous incentives offered by Pakistan to attract foreign investment.