Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh highlighted the growing trade relationship between Pakistan and the United States, noting that bilateral trade exceeded $7 billion in 2023 and reached $6.3 billion in the first 10 months of 2024. .
He expressed optimism about doubling this volume in the coming years, citing the growing demand for Pakistani products, rising IT exports, and diversification of the export portfolio.
In a statement issued by the Federation of Pakistani Chambers of Commerce and Industry, Sheikh stressed the business community’s belief in the untapped potential of the US market for Pakistani goods and services. “With focused efforts, trade volume can be increased significantly within a short period,” he added.
Pakistan’s Ambassador to the United States, Rizwan Saeed Sheikh, noted the strong relations between the two countries, which are supported by a large number of Pakistani-American expatriates numbering one million. He stressed that Pakistan is the largest importer of American cotton in the world, and shared plans to export 5,000 Pakistani nurses to the United States, with pharmacists expected to follow. In addition, 40,000 Pakistani doctors are already working in the United States.
Ambassador Sheikh stressed the importance of economic diplomacy, noting that the economies of California and Texas, ranked fourth and sixth in size in the world, offer tremendous opportunities. “What may seem unattainable in political diplomacy can often be achieved through economic cooperation,” he noted.
The FPCCI president urged exporters to remain prepared for potential opportunities, including the renewal and potential expansion of the US Generalized System of Preferences (GSP) programme. He noted that textiles represent 55% of Pakistani exports to the United States, but other sectors are gaining momentum, with IT exports crossing the $1 billion mark.