Pharmaceutical and IT sectors hold strong potential in U.S. market: Usman Shaukat
\nRAWALPINDI
\nPresident of the Rawalpindi Chamber of Commerce and Industry (RCCI), Usman Shaukat, has underscored the importance of further strengthening Pakistan\u2013United States trade and investment relations, describing the U.S. as one of Pakistan\u2019s most important and strategic economic partners.
\nHe expressed these views during his meeting with Ms. Natalie Baker, Charg\u00e9 d\u2019Affaires, U.S. Embassy, held at the residence of the U.S. Ambassador. The meeting focused on enhancing bilateral economic cooperation, exchange of trade delegations, and exploring new avenues for collaboration between the business communities of both countries.
\nUsman Shaukat emphasized that trade delegations and business opportunity conferences serve as effective platforms for sharing perspectives, identifying challenges, and unlocking new opportunities in bilateral trade.
\nHe briefed the Charg\u00e9 d\u2019Affaires on RCCI\u2019s upcoming business delegation to the United States and highlighted Pakistan\u2019s improving investment climate, particularly the facilities being extended to foreign investors and overseas Pakistanis under the Special Investment Facilitation Council (SIFC) to encourage greater engagement of the U.S. private sector in Pakistan.
\nThe RCCI President stressed the need to diversify Pakistan\u2019s export basket beyond conventional sectors, noting that Pakistan holds immense potential in non-conventional areas.
\nIn particular, he highlighted the pharmaceutical sector, which foresees a significant opportunity to enhance exports to the United States following the announcement of a new U.S. tariff policy.
\nHe pointed out that Pakistan faces a 19 percent tariff on exports to the U.S., compared to 25\u201350 percent for India and up to 50 percent for China, giving Pakistan a competitive edge over neighboring economies.
\n\u201cThe current favorable tariff structure presents an excellent opportunity for Pakistan\u2019s pharmaceutical sector to enter and expand in the U.S. market, earning valuable foreign exchange for the country,\u201d he added.
\nUsman Shaukat noted that the United States is Pakistan\u2019s largest export destination, with total bilateral trade in goods and services estimated at around USD 10.1 billion in 2024.
\nWhile textiles continue to dominate Pakistani exports, he emphasized growing prospects in information technology, pharmaceuticals, and value-added products. He also highlighted the U.S. as a major source of foreign direct investment (FDI) and remittances, which further strengthens economic ties.<\/p>\n","protected":false},"excerpt":{"rendered":"
Pharmaceutical and IT sectors hold strong potential in U.S. market: Usman Shaukat RAWALPINDI President of the Rawalpindi Chamber of Commerce and Industry (RCCI), Usman Shaukat, has underscored the importance of further strengthening Pakistan\u2013United States trade and investment relations, describing the U.S. as one of Pakistan\u2019s most important and strategic economic partners. He expressed these views […]<\/p>\n","protected":false},"author":2,"featured_media":476530,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-524709","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n