ISLAMABAD: Pakistan’s Ambassador to the United States, Rizwan Saeed Sheikh, urged American businesses to increase investment in the nation's mineral and surgical instrument sectors to promote bilateral trade and commercial partnerships between the two countries, according to a Sunday press release from Pakistan's Press Information Department (PID).
The ambassador made the remarks during engagements with business leaders in Chicago, where he promoted increased US investment in Pakistan, highlighting the high-potential mineral and surgical instrument sectors, the statement said.
At a breakfast meeting hosted by the Pak American Chicagoland Chamber of Commerce (PACC), the ambassador called on attendees to "strengthen business-to-business (B2B) linkages and explore expanding ventures in Pakistan."
PACC President Naveed Anwar briefed the ambassador on his recent visit to Pakistan as part of a US business delegation and expressed confidence in the country’s economic landscape, according to the statement.
$200m mineral venture
In a separate bilateral meeting, Nadeem Ahmad, president of Miracle Salt Works Collective Inc. (MSCI), briefed Sheikh on the company’s ongoing $200 million joint venture with the Pakistan Mineral Development Corporation (PMDC).
The project involves the local crushing and packaging of Pakistani pink rock salt for export to international markets.
According to the statement, he described the initiative as a "benchmark for value-added foreign investment in Pakistan’s mineral sector," saying it had the potential to become a multi-billion dollar investment opportunity.
Focus on surgical instruments
Sheikh also visited Phoenix Instruments in Naperville, Illinois, a facility involved in the finishing, packaging and distribution of Pakistani-manufactured surgical instruments for the US healthcare market.
Following a tour of the facility, company executives discussed ways to expand operations, according to the press release.
The ambassador called for increased US investment in "advanced manufacturing technologies, specialized workforce training, and skill development" to help Pakistan’s surgical manufacturing industry move toward higher-value and high-tech segments.
Pakistan’s surgical instrument industry is concentrated largely in Sialkot and has a significant export presence in international markets, particularly in the healthcare sector.
Ambassador Sheikh reaffirmed Pakistan’s commitment to “sustainable, investment-led economic partnerships” with the United States that drive technology transfer, value addition, and mutual commercial growth, according to PID.
The envoy was accompanied by Pakistan’s Consul General in Chicago during the engagements.
