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Govt neglecting trade due to terrorism

LAHORE – Pakistan’s honorary envoy in Virgin Island of America, Syed Zain Gilani has said that the Pakistani embassy in America has become a clarification center only for contradicting the propaganda against Pakistan.
He expressed these views while addressing a forum held in Aiwan-e-Waqt on Sunday. Syed Zain Gilani is residing in America from last ten years and is president of Pak-Carib Business Forum besides working as honorary representative of Pakistan trade and investment in Virgin Island of America. He also was doing software business besides working as a freelance journalist and was also a host of Radio talk show.
He said that government of Pakistan is focusing to fight against terrorism and is neglecting trade policy, as government has not taken any sound measures for the improvement in business sector and to constitute investment policy, which is need of the hour. He said incident of 9/11 hit the Pakistani export business badly in the US.
He said there was tremendous scope of Pakistani export in Virgin Island specially handicrafts, jewellery and cotton, which must be export from Pakistan. He said ministry of trade and commerce was determined to conquer American market and was also focusing the markets of South Africa.
He suggested that Pakistan must look for new markets in Caribbean region for increasing export. He said America has declared Virgin Island a special state while the Caribbean region including Cuba, Haiti and Venezuela is very fertile for the Pakistan export business.

Fahim explores trade opportunities with Virgin Island


Washington—Federal Commerce Minister Makhdoom Amin Fahim met with top officials of Economic Development Authority in U.S. Virgin Islands to explore possibilities for expanding Pakistani trade with the American trerritory in the Caribbean. Fahim is the highest ranking Pakistani official to visit the U.S. Virgin Island, which offers lucrative business opportunities under its EDA laws, allowing investors to access American market with greater ease and benefits.

The EDA hosted a luncheon meeting for the visiting Pakistani minister, where he met with the Lt. Governor of the Virgin Islands, Gregory Fancis, Chairman of the Economic Development Authority and Commissioner of Labor, Albert Bryan, Chairman of the Virgin Islands Senate’s Economic Development Committee, Senator Barshinger, Assistant Chief Executive Officer Virgin Islands Economic Development Authority, Ms. Alicia Barnes, Director of Marketing EDA, Jerry Garcia, and representatives from the Senate President Luis Patrick Hill’s office were amongst others.

According to Dr. Zia Ahmed, Trade Attache Pakistan Consulate in Houston, prominent Pakistanis in the Caribbean including Ali Mohammad, host and organizer of the trip, Syed Zain Gilani, a prominent Pakistani businessman attended the meeting. Makhdoom Fahim was informed about the lucrative incentive package offered by the Virgin Islands Economic Development Authority under which any Pakistani business can invest in the US territory to benefit from virtually zero tax and tariff policy and better access to the US market for Pakistani products.

The minister was told that the Virgin Islands is also a home of the Western hemisphere’s one of the largest oil refinery and that the US territory is very interested in seeking mutual beneficial relationships with Pakistan under the US flag. Both parties also discussed an array of other topics of mutual interest including seeking investment and trading possibilities from the Virgin Island’s businesses.

Economic development benefits extended by the US Federal government and managed by the Virgin Islands Economic Development Authority (EDA) provide unique tax benefits and unprecedented access to the mainland US market to any business who adds a certain manufacturing value to its product or service in the islands. Meanwhile, Minister of Trade and Commerce Makhdoom Amin Fahim was greeted by the Pakistani community of the Virgin Islands at a dinner hosted by a prominent Pakistani and expert on the energy sector Jahangir Zakaria. Mohammad Ali, Syed Zain Gilani, and Former Federal Minister of Pakistan Syed Munir Hussain Gilani also attended the event.—AFP

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