LAHORE: US Ambassador Richard Olson highlighted opportunities to strengthen economic ties between the United States and Pakistan during visits to Sialkot and Lahore, a press release issued by the US Embassy in Islamabad says.
In Sialkot, Ambassador Olson toured the Sialkot International Airport, the Silver Star Group, and KM Ashraf Industries. He also met with the executive board of the Sialkot Chamber of Commerce and Industry. In Lahore, Ambassador Olson congratulated US companies for their work in Pakistan, including corporate social responsibility programs, at the annual dinner of the American Business Forum.
“The United States stands with many entrepreneurs here in Sialkot and across Pakistan as you develop your businesses,” said Ambassador Olson during his visit to Silver Star in Sialkot. Silver Star produces nearly 70% of the hand-stitched footballs sold by the US firm Nike. “The United States is among the largest investors in Pakistan, and Pakistan exports more products to the United States than to any other country in the world,” he added. Ambassador Olson underscored this point during a visit to KM Ashraf Industries, which exports more than $20 million worth of sports uniforms to the United States each year.
At the Sialkot International Airport (SIAL), Pakistan’s first privately-funded international airport, Ambassador Olson congratulated the management team for recent upgrades that allow the airport to carry the load of 10 jumbo planes, benefitting hundreds of businesses and more than a million travelers each year. “This is a clear example of how private-sector funding can be used to meet the needs of the business community. SIAL is a model for other cities in South Asia,” said the Ambassador.
At a lunch meeting with the executive board of the Sialkot Chamber of Commerce and Industry, Ambassador Olson discussed opportunities to further strengthen ties between US and Pakistani businesses. He also reminded Chamber members that businesses can take advantage of the US Generalized System of Preferences (GSP), which allows more than 3,500 Pakistani goods to enter the United States duty free.
Ambassador Olson will cap off his private-sector meetings in Punjab by recognizing the corporate social responsibility efforts and strong business ethics of US companies working in Pakistan at the American Business Forum annual dinner in Lahore.
Throughout his visit, Ambassador Olson highlighted several examples of Pakistani entrepreneurs who have benefitted from US economic assistance. US economic assistance helps businesses create jobs and boost incomes with projects that expand Pakistan’s agricultural output. US assistance is building roads to facilitate trade and will offer a private equity fund to help small and medium-size businesses expand.
DND
