press releases
U.S. Senior Official In Pakistan To Pursue President Bush’s Initiative For Economic Growth
07/16/2006
Islamabad - United States Assistant Secretary of State for Economic and Business Affairs, Mr. Daniel Sullivan, traveled to Muzaffarabad, AJK and Balakot, Mansehra District, NWFP to see firsthand the effects of the October 8 earthquake.
Assistant Secretary Sullivan met with government officials and industry leaders in Muzaffarabad and Balakot to learn about the effects of the earthquake on business in the area and to discuss the possibilities for economic growth.
Mr. Sullivan is exploring the prospects of establishing Reconstruction Opportunity Zones (ROZs) in the earthquake-affected region and along the border with Afghanistan. President Bush announced the initiative during his visit to Pakistan in March 2006.
The goal of ROZs is to foster economic growth by providing tariff-free access to the U.S. market for goods produced in areas that face significant development challenges. Following the Assistant Secretary's visit, a study team will travel to Pakistan in August to further investigate the establishment of ROZs. This team will consult with the Government of Pakistan and the private sector and report its findings to senior policy-makers in Washington, D.C.
The Assistant Secretary was also briefed on the United States Government's US$ 510 million of economic assistance to the earthquake-affected region and visited a U.S. Agency for International Development program to remove rubble from Muzaffarabad's central business district. The program is being implemented by the International Office for Migration (IOM).