Washington (TDI): In his address to US business leaders, diplomats, and thought leaders at the World Trade Center, Pakistan’s Ambassador Rizwan Saeed Sheikh highlighted the economic opportunities and the addictive’ profitability of the Pakistani market.
He said that Pakistan offers a 70% cost advantage in IT services compared to the US and 20-30% to any of Pakistan’s global competitors.
“We are not only cost-effective but also quality-competitive, as demonstrated in some of the world’s most demanding technological arenas as exemplified by the high tech and singularly successful aerial combat on the night between 6th and 7th of May,” he said.
Pakistan’s booming IT sector, driven by its techy savvy youth, is creating an unmatched complementarity with the United States, the Ambassador told the audience.
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“From a futuristic standpoint, this unique complementarity between two mega countries in the world deserves focused attention, strategic recognition and concrete action,” he said.
The success of over 80 U.S. multinational companies in Pakistan for past several decades clearly reflect the profitability and potential of Pakistan as regional trade hub, added the Ambassador.
Tracing longstanding political and economic relations between Pakistan and the United States, the Ambassador highlighted that the trade deficit between the two countries was insignificant. He pointed out that Pakistan ranked 33rd in terms of trade deficit with the United States — a modest figure of $3.1 to $3.4 billion.
The Ambassador also noted that discussions are ongoing with US agricultural councils, including the Soybean Export Council, to deepen agricultural trade ties.
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Noting the recent investments by Barrick Gold in copper reserves and the interest evinced by US investors in the mineral wealth of the country, he reiterated that Pakistan could be the next Saudi Arabia of copper.
Drawing a powerful parallel with Mexico’s role for the US, Ambassador Rizwan described Pakistan as a connector country in South and Central Asia — uniquely positioned to facilitate trade between the US, China, and the broader region.
“Our diaspora has done exceptionally well and can be a powerful force multiplier in amplifying and facilitating US-Pakistan economic engagement,” he said while recognizing the role of Pakistani-American community.
Sohail Majeed
Sohail Majeed is a Special Correspondent at The Diplomatic Insight. He has twelve plus years of experience in journalism & reporting. He covers International Affairs, Diplomacy, UN, Sports, Climate Change, Economy, Technology, and Health.
