THE AMBASSADOR MEETS MEMBERS OF GLOBAL BUSINESS FORUM

The Ambassador spoke at the Global Business Forum on October 5, 2006 at the George Town Club in Washington , DC .

The Global Business Forum is a limited membership organization consisting International Corporations based primarily in Europe and North America . The Forum serves as a bridge between the business communities of North America and Europe and policy makers as well as the opinion leaders in Governments/Inter-governmental organizations and Non-governmental organizations around the world.

The Ambassador met the members of Global Business Forum at a luncheoun discussion meeting on Pakistan-US relations and the investment climate in Pakistan on October 5, 2006 at the George Town Club.

At the informal discussion, Ambassador gave an overview of the Pak-US relations particularly the recent positive development in this relationship as a result of President Musharraf's recent visit to the US . He briefed the participants on the current investor friendly investment climate in Pakistan .

The Ambassador talked about President Bush's visit to Pakistan in March this year. He explained that the strategic partnership initiated between the two countries was overshadowed by the criticism primarily because of the fact that the visit took place in the immediate aftermath of President Bush's visit to India and the announcement of Indo-US civilian nuclear cooperation. This in fact provided a foundation for a broad based sustainable relationship between Pakistan and the US . The visit actually laid down institutional framework for cooperation in the fields of science and technology, energy, education and trade and investment. The recent visit of President Musharraf offered an opportunity to the two Presidents to review the progress in the agreed areas of cooperation. While briefing the participants for President Musharraf's visit the Ambassador said that he had a very useful interaction with the full range of print and electronic media, he had very useful talks at the think tanks and the universities. He met with the members of the US business community and also held meetings with the Secretaries of Commerce, Defense and Energy besides his meeting with the Secretary of State. His meeting with President Bush and later on with President Bush and later on with President Bush and the Afghan President Karzai at an Aftar dinner was very helpful and provided an opportunity to review and to further strengthen the relationship on a sustainable basis. The Ambassador also briefed participants on the positive outome of President Musharraf's meeting with Prime Minister Manmohan Singh on the margins of the NAM Summit in Havana , Cuba and the progress in the ongoing peace process with India . While talking on the investment climate in Pakistan the Ambassador explained that the current environment is one of the most investor friendly in the region. Almost all factors of the economy are open for private investment including the financial as well as communication sector. The Government of Pakistan does not discriminate between the local and foreign investors and all factors of the economy which are open to the local investors are also open for foreign investors. The foreign investors are also allowed to repatriate their capital in foreign exchange. Pakistan considers regional security as an absolute essential for the economic growth as well as the social well-being of the people not only in Pakistan but in the entire region. Improved relationships with India and a peaceful and stable Afghanistan are our policy objectives.

October 05, 2006