LAHORE: Pakistan can significantly expand its exports to the United States by strategically leveraging the US tariff structure, potentially raising export volumes from the current $6 billion to $10 billion, said Lahore Chamber of Commerce and Industry (LCCI) President Faheemur Rehman Saigol.
Speaking during a meeting with a delegation of the Pakistan American Chicagoland Chamber of Commerce, Saigol noted that while the US remains Pakistan’s largest export destination, the country has largely relied on traditional exports, particularly garments. He stressed the need to diversify beyond the five conventional sectors and focus on emerging areas such as information technology, minerals, agriculture and other high-potential sectors being prioritised by the government and the Special Investment Facilitation Council (SIFC).
Highlighting the role of the Pakistani diaspora in the US, Saigol said their business networks and expertise could play a critical role in enhancing trade ties. He also underscored the strong potential of exporting skilled human resources, which could boost both exports and remittances. He noted that remittances have risen sharply this year and are expected to reach $42 billion by year-end, adding that a comprehensive strategy for skilled labour export is essential to sustain this growth.
Pakistan American Chicagoland Chamber of Commerce President Naveed Anwar said Pakistani businessmen in the US are keen to contribute to Pakistan’s economic stability. He shared that recent discussions with US Senate representatives highlighted strong prospects for Pakistan’s pharmaceutical industry, especially after tariffs were imposed on Indian pharma exports.
However, Anwar expressed concern that no Pakistani pharmaceutical company is currently FDA-compliant, which has constrained export growth. He cited regulatory complexities and quality control issues as major barriers, warning that despite new opportunities, quality standards remain a critical challenge.
Dr Sameer Shafii, also part of the delegation, pointed out that stricter US visa policies have led to human resource shortages, prompting American firms to seek outsourcing opportunities. He suggested establishing special facilitation centres in Pakistan to attract such companies. Dr Shafii also highlighted challenges faced by overseas Pakistanis in repatriating capital after investing in Pakistan, noting that regulatory hurdles and weak ease of doing business continue to deter foreign investment.
