Pakistan’s booming IT sector offers unique synergy with US, says envoy

WASHINGTON: Pakistan’s Ambassador to the United States Rizwan Saeed Sheikh has said that Pakistan’s rapidly expanding IT sector -- driven by its tech-savvy youth -- is creating a unique synergy with the United States, one that merits strategic recognition and action.

Speaking to US business leaders, diplomats and policy experts at the World Trade Centre, Sheikh underscored the “unmatched complementarity” between the two countries in the technology space. “From a futuristic standpoint, this partnership deserves focused attention, strategic recognition and concrete action,” he remarked.

He highlighted the profitability and growth potential of the Pakistani market, noting that over 80 US multinational companies have successfully operated in Pakistan for decades. “Their continued presence reflects not only strong returns but also Pakistan’s potential as a regional trade hub,” he said.

Touching upon the recent tensions with India, the ambassador reiterated Pakistan’s commitment to peace. “While there is a sense of national pride over the success in thwarting aggression, we don’t want to do it again. We are a peace-loving country. At the very time this escalation took place, we were in the midst of a positive economic trajectory,” he said.

On US-Pakistan economic relations, Sheikh noted that the trade deficit between the two countries was modest. “Pakistan ranks 33rd in terms of trade deficit with the United States -- a manageable gap of around $3.1-3.4 billion,” he explained.

“This can be narrowed through increased imports such as US cotton and soybeans.”He pointed out that Pakistan is already among the largest importers of American cotton, a vital input for the country’s thriving textile sector.

Discussions with US agricultural councils, including the US Soybean Export Council and Cotton Council, are ongoing to further deepen agricultural trade ties, he added. The ambassador also emphasised Pakistan’s cost advantage in IT services, saying that the country offers a 70 per cent cost benefit compared to the US and a 20-30 per cent advantage over other global competitors. “We are not only cost-effective but also quality-competitive,” he said, citing Pakistan’s capabilities in high-stakes technological environments, including recent high-tech aerial defence operations in early May.

Turning to investment in Pakistan’s mineral sector, Sheikh cited recent ventures by US-based mining company Barrick Gold in the country’s copper reserves and growing US investor interest.

“Pakistan could become the next Saudi Arabia of copper,” he said, adding that efforts are underway to digitise and tokenise mineral assets, opening new opportunities for US FinTech collaboration.

He also highlighted the role of the nearly one million-strong Pakistani-American diaspora in strengthening bilateral ties. “Our diaspora has done exceptionally well and can serve as a powerful force multiplier in amplifying and facilitating US-Pakistan economic engagement,” he said.

Inviting US corporations, state governments and business stakeholders to explore Pakistan’s market of 250 million people, the ambassador encouraged them to take advantage of the significant economic opportunities the country offers.