Pakistan prizes its trade relations with US: envoy

ISLAMABAD:  Aizaz Ahmad Chaudhry, Pakistan’s ambassador to US, on Monday said that Islamabad attaches great importance to mutually beneficial trade and investment relations between Pakistan and the United States. 

Chaudhry expressed these views this while talking to a delegation of Securities of Exchange Commission of Pakistan (SECP) officials and senior officers of US Department of Commerce (USDC), who called on him at Pakistan Embassy in Washington DC. 

“The SECP’s role in introducing corporate and capital market reforms for the promotion of trade and investment in the country is commendable,” the ambassador said.   The SECP officials were in the US to attend the 27th Annual International Institute on Securities Market Growth and Development at the United States Securities and Exchange Commission (US SEC). 

Ambassador Chaudhry also made a special mention of the SECP’s leadership for playing an effective regulatory role for disciplining the financial and corporate sector of Pakistan. 

Speaking on the occasion, USDC representatives also gave a big round of applause to the SECP officials for their active participation in the training course.

It may be added that Michael Piwowar, the acting chairperson, US SEC, also paid tribute to the SECP with regard to its regulatory framework at the opening ceremony of the event.  Earlier, delegates from other countries also appreciated the commission for launching regulatory reforms. 

In a statement issued earlier, the SECP leadership also expressed its willingness to share its experience in the implementation of these reforms with other jurisdictions. In order to provide conducive environment for investment in capital market, the SECP  has implemented significant reforms in legislative framework in line with the best international practices, including promulgation of the 2015 Securities Act, amendments to 1997 the SECP Act, amendments to the NBFC Regulations, Securities’ Brokers Regulations, Research Analyst Regulations, and Private Fund Regulations.