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‘Successful business ventures of US corporations affirming Pak business potential’: Envoy

Islamabad:Pakistan’s Ambassador to the United States Masood Khan has said profitable business ventures of over 80 US multinational corporations (MNCs) in Pakistan should serve to encourage investors and the business community to not only take advantage of a growing market of 240 million but also use the strategic location of the country for serving a huge market of Central and West Asia, Middle East and North Africa.

He made these remarks while talking to senior executives of PepsiCo in Washington, according to a Radio Pakistan’s report. The Ambassador said an enterprising middle class and the growing needs of a developing economy have created huge opportunities for the business community to establish as well as expand their businesses and to reap dividends by fulfilling the existing unmet demand.

He said there was a need for better coordination among stakeholders to showcase success stories of the business community in two countries. Masood Khan stressed that holding of road shows and enhancing frequency of business delegation exchanges would go a long way in promoting better linkages and business networks and helping the business communities to explore available business opportunities.

Discussing the proposal of holding of road-shows in the major US cities like New York, Washington D.C, Houston, Chicago and Los Angeles, he underscored the need for better collaboration among US MNCs working in Pakistan, American Business Forum, American Business Council and US-Pakistan Business Chamber.

The Ambassador assured all possible facilitation by Pakistan Missions in the United States. On the occasion, PepsiCo senior directors Mohammad Khosa and Ms Caroline Berson, while noting success of the company in Pakistan in beverages and food sector said that the country was serving as an export hub for its manufactured products to regional countries like Afghanistan.

The finished food products made in Pakistan were also being exported to Qatar, Malaysia, and Philippines, they said. Mohammad Khosa informed that PepsiCo was investing $ 80-90 million in Pakistan every year. He assured to enhance and diversify PepsiCo’s investment in Pakistan.

PepsiCo executives also expressed keen interest in organizing road shows and exhibitions in the US and agreed to explore the possibilities of establishing liaison with other businesses and organizations.