Karachi: At an event commemorating the 248th anniversary of American Independence held at the American Consulate in Karachi, Sindh Chief Minister Syed Murad Ali Shah emphasized the deep economic and historical ties between Pakistan and the United States. The Chief Minister celebrated the recent growth in bilateral economic relationships and reiterated the countries’ shared commitment to democracy and economic liberalism.
According to Chief Minister Sindh, American Consul General Mr. Conrad Treble spoke about the shared values and the long journey of cooperation between Pakistan and the U.S., particularly highlighting the strategic partnership following the events of 9/11. Chief Minister Shah pointed out the significant strides in economic partnership, noting a 50% increase in U.S. investment in Pakistan during the fiscal year 2021-22, marking the highest level of investment in a decade.
The Chief Minister further mentioned that over 80 American companies are registered and actively operating in Pakistan, with a collective investment exceeding 1.5 billion dollars and generating nearly 3 billion dollars in annual revenue. He underscored that the U.S. remains Pakistan’s biggest trading partner, with bilateral trade reaching 6.6 billion dollars in 2023. In March 2024 alone, the U.S. exported goods worth $253 million to Pakistan and imported goods valued at $428 million from Pakistan, including key commodities such as home textiles and raw materials like cotton and iron.
Highlighting the economic cooperation, Chief Minister Shah praised American companies for their significant role in enhancing Pakistan’s energy sector, particularly in renewable energy projects and basic infrastructure development. These efforts, he said, have bolstered energy security and sustainable development, reflecting the mutual commitment to a prosperous future.
In his closing remarks, Chief Minister Shah expressed optimism about overcoming challenges and enhancing the bilateral relationship through cooperation in technology, education, climate change, and public health. He thanked America for its steadfast relationship and friendship with Pakistan, celebrating the strong ties between the two nations on the occasion of American Independence.