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FPCCI demands duty-free access to US markets

FPCCI demands duty-free access to US markets

ISLAMABAD: Federation of Pakistan Chamber of Commerce and Industry demanded duty-free access of Pakistani products to the US markets for helping it offset the colossal economic loss during its war against terrorism.

Pakistan economy has so far suffered more than one trillion dollars huge loss for last one decade in its continuing war on terror, said FPCCI Chief Zubair Ahmad Malik. Pakistan is the only country in the world which is one of the most affected states by this war, he added.

FPCCI wanted duty-free trade with the US private sector and not aid. Pakistan could provide the best quality products of international standard to the US markets on buy back- basis, provided its private sector was fully strengthened by the US investors on scientific lines, said Malik. Zubair.

US President Barack Obama, in the presence of Prime Minister Muhammad Nawaz Sharif currently visiting the US, must announce free market access to Pakistani products at zero duty. He also urged the US businessmen to invest in power, IT, agriculture, livestock, engineering and other sectors as manpower in Pakistan is much cheaper.

He said the US in order to offset the threat of food scarcity, must help Pakistan livestock sector, which had the potential to meet an ever increasing demand of the US market with an excellent quality of food, fruit, vegetables, beef and mutton.

Zubair said Pakistan was blessed with plenty of natural resources which needed to be explored with the US foreign investment.

Founder Chairman Pak-US Business Council and veteran trade leader Iftikhar Ali Malik said the US should also transfer the hybrid technology to Pakistan for bringing about a revolution and strengthening of its national economy as war on terror had destroyed the infrastructure in Pakistan which badly needed its full rehabilitation and reconstruction.

He urged the US to help end prevailing tension between the two nuclear powers for durable peace in the region and winding up of war on terror. It was affecting socio-economic condition of the people of South Asia, he added.

Iftikhar said the US Chamber of Commerce (USCC) could play a pivotal role in promoting bilateral trade relations as the US was already an important trading partner.