While discussing new forms of cooperation during the coronavirus pandemic, Faraz said that the digital outreach has greatly helped business activities and transactions to go online. “It has been a great learning experience for us,” he said.
The US has been one of the top investors in Pakistan over the last two decades, with major investments concentrated in consumer goods, chemicals, energy, agriculture, business process outsourcing, transportation, and communications. It is also Pakistan’s largest export destination country, with the two nations’ bilateral trade amounting to $6.5 billion last year.
Pakistan saw unprecedented inflows of foreign money last year as investors were lured by high interest rates and promises of economic reform. According to Abdul Hafeez Shaikh, financial adviser to Prime Minister Imran Khan, foreign direct investment surged by 200 percent in the first half of 2019. Global investors bought one-year bonds worth $642 million in November alone.
