KARACHI - "The newly-elected U.S. President, Barack Obama will not only bring the hope for the recovery of financial mess but also bode well for the economic future of Pakistan amid the possibility of increase in influence on the Friends of Pakistan, economic experts and analysts said Wednesday while commenting on the victory of President-elect Barack Obama. "The new political administration in the US, led by the Democrats will give a fresh start to the Pak-American economic and commercial ties as Pakistan is requiring a lot more economic assistance and military aid from the United Sates as well as seeking its help for Friends of Pakistan forum to avoid having to go to the International Monetary Fund (IMF) for a loan", an expert told The Nation.   It has been reported that Friends of Pakistan economic aid meeting is taking place on Nov 17 in Abu Dhabi to decide on economic aid for the country. Experts said country needs to receive more foreign investments in order to ease its troubling balance of payment position as there are still abundant business and investment opportunities in Pakistan. By implementing Reconstruction Opportunity Zones (ROZs) legislation passed by the US Congress earlier, Pakistan and Afghanistan would allow exporting some textiles, clothing and other goods without paying U.S. duties. World markets reportedly had celebrated Obama's wining as Dow Jones up by 3 percent, Europe increased by 5 percent and Asian markets swelled by 4 percent while internal oil prices rose by 69 dollars per barrel and gold value went up to $760b. It is worth while mentioning here that in the month of July 2008 during Gilani's visit to USA, the US Foreign Relations Committee had approved the Biden-Lugar bill to provide assistance of $15b to Pakistan over the next one decade. According to the Biden-Lugar legislation details, the $2 billion FATA plan, to which the US would contribute $750m over a five-year period, would help accelerate social sector development in the tribal areas, contributing to the efforts to rescue the tribal people from the clutches of ignorance, extremism and foreign terrorist. As on July 29, 2008, Chairman of the Senate Foreign Relations Committee Joseph R. Biden and the Committee's Ranking Member Richard Lugar passed a unanimous voice vote out of the Senate Foreign Relations Committee. The bill authorized trilling non-military aid to Pakistan and sustained it over at least five years. Specifically, the legislation authorized 7.5 billion dollars over 5 years in aid that can be used for development purposes.   "The advanced economies are facing a worst-ever financial crisis. As compared to the American and European capital markets, we have not affected completely from the global financial turmoil but to some extent", an analyst said, adding that Pakistan's economy to date has been affected mainly by the indirect impact of global events which led to the rise in the global commodity prices. Pakistan is perhaps the worst hit economy by the surge in global commodity prices as it has been a predominant factor in derailing the macroeconomic fundamentals.