NEW YORK - American businessmen have said that Pakistan’s business climate is moving in the right direction but the pace of economic reforms should be accelerated.

They have expressed the commitment to push for improved economic engagement between the two countries aimed at resolving tensions and to achieve shared goals.

The commitments were made during meetings between FPCCI’s delegation, led by its President Ghazanfar Bilour, and US businessmen that included Esperranza G Jelalian, president of US-Pakistan Business Council.

American businessmen feel that investment climate is better than other regional countries but there is a room for further improvement, they said, adding that we support a broad-based bilateral relationship with Pakistan that promotes trade and investment which can help rapid development.

The US investors said that continued implementation of sound policies and necessary structural and financial reforms will boost the confidence of investors and create jobs resulting in improved economic growth. Many US companies want to operate in Pakistan to promote the bilateral economic and business relationship, they said.

Speaking at the occasion, Ghazanfar Bilour said that we are in process of promoting a competitive market by enhancing the investment climate and regulatory environment.

He said that strengthened intellectual property rights protection and enforcement will promote the interest of foreign investors in promising Pakistani market.

Ghazanfar Bilour highlighted the investment opportunities in Pakistan and invited the American business community to explore opportunities.

We want America to boost private sector partnerships and stressed upon fair trade, open investment environment and transparent agreements, he demanded.

Chairman Coordination FPCCI Malik Sohail said that Pakistan is spending billions of dollars on infrastructure development despite budgetary pressures and other challenges.

Reliance on state-owned enterprises is being reduced while substantial improvements in access to health care as well as education reforms have been initiated which will improve overall situation, he said.

Vice Presidents of FPCCI Karim Aziz Malik, trade minister Ali Tahir, former president ICCI Muzmil Hussain Sabri, Ayaz Malik, Akbar Khan, Ch Sajjad and Arslan Khokhar also attended the meetings.