PESHAWAR, May 24: US Commercial Counsellor Brian McCleary has said that he is optimistic about bilateral trade between the US and Pakistan in near future.

“There are a number of things on ground that will help boost economic relations between the two countries,” he told members of business community at Sarhad Chamber of Commerce and Industry here on Thursday.

He said that US companies would invest in Khyber Pakhtunkhwa and other parts of the country.

He said that the business community of both the countries could improve bilateral trade relations between the countries.

Flanked by US Consul General in Peshawar Dr Marie Richards, Mr McCleary said that the future of bilateral relations between Pakistan and US lied in commerce and trade. “I am here to promote the same,” he added.

SCCI president Afan Aziz, vice president Ziaul Haq Sarhadi, businessmen, industrialists and leaders of different trader federations were present on the occasion.

Mr Aziz, in his welcome address, said that balanced trade relations were necessary for improving bilateral ties between the two countries. He said that despite strain relations, healthy trade activities between Pakistan and US continued over the past so many years.

However, he said, there was still need to do more for further improving bilateral economic ties between the two countries as it was need of the hour.

Mr Aziz said that that economic and industrial growth was adversely affected by militancy and insurgency in the province.

“The electricity and gas crises are further aggravating the situation, mainly for business persons,” he added.

Mr Aziz also spoke about access of Pakistani products to US market, investment areas in Khyber Pakhtunkhwa, impediments in the way of Reconstruction Opportunities Zone (RoZs) and different aspects of Afghan Transit Trade.

He urged the US to take steps to address the issues being faced by business community in Khyber Pakhtunkhwa. He suggested that a forum should be set up comprising members of business community to improve trade relations between the two countries.

“There are immense potential and opportunities to attract foreign investment. The US government should devise a comprehensive strategy to attract foreign investment in this region,” Mr Aziz said.

Referring to the questions and suggestions of the businessmen, Mr McCleary said that despite experiencing different challenges and issues, Pakistan would be a potential destination for energy, technology, health, education and tourism with more structural economic reforms and best entrepreneur practices in future.

The US envoy assured the chamber leaders of full facilitation through his office in trade expansion, exchange of trade delegations and business opportunities.

About access of Pakistani products to US market, he said that both countries were working to improve and extend facilities to boost trade ties in coming days. The mutual steps could prove helpful to enhance the current trade volume between the two countries, he added.

Mr McCleary said that all outstanding issues should be resolved through mutual trade and economic agreements.

On the occasion, Dr Richards said that situation was improving for investment and economic activities in Khyber Pakhtunkhwa and other parts of the country.