Press Releases
U.S. Diplomat Terms Economic Growth Key To Pakistan’s Future
02/13/08
Embassy Economic Counselor Unveils New Initiative
Lahore – The United States Embassy Counselor for Economic and Commercial Affairs Amy Holman stressed that Pakistan and the United States would benefit from a “sustained and balanced economic relationship” while speaking at the Lahore University of Management Sciences (LUMS).
“Pakistan has an impressive story to tell on economic growth and development since 1999,” stated the U.S. diplomat addressing students and faculty. “Economic growth will play an important role in securing Pakistan’s future as a peaceful, democratic state.”
With $913 million invested in 2007, the U.S. has been Pakistan’s largest foreign investor, noted the diplomat, adding that the U.S. continues to be Pakistan’s largest export market. During the 2006-07 fiscal year, 28.4 percent of the country’s total exports of $17.08 billion were to the U.S.
“The U.S. government is committing $750 million over five years to complement Pakistan’s 10-year plan for the frontier region,” remarked the U.S. diplomat. “Our joint efforts in securing good health and education systems, and economic growth in the Federally Administered Tribal Areas (FATA) will help promote stability in South Asia.”
Ms. Holman outlined a new initiative, Economic Empowerment in Strategic Regions (EESR), that will give local businesses and entrepreneurs the opportunity to connect with potential partners in the private sector and the U.S. government. She invited business students to visit the EESR website (www.state.gov/e/eeb/tpp/eesr) and submit their ideas.
During her visit to the provincial capital, the U.S. diplomat visited the historic Badshahi Mosque, the Fort and the Lahore Museum. Ms. Holman also met with U.S. business representatives in the city.