Pakistan's Ambassador to the US Rizwan Saeed Sheikh has said the new phase of Pakistan-U.S. relations will be based on economic engagement and long-term economic ties.

He made the remarks at a dinner hosted by him in honour of prominent Pakistani Business personalities visiting the US under the SelectUSA program.

The Ambassador emphasized that bilateral political and economic relations between the world’s two most populous countries are not optional but essential, and a pressing need of the time.

Rizwan Saeed Sheikh mentioned that during the recent conflict in the Middle East, business activity and traffic at Karachi Port over the past month further highlighted Pakistan’s geographical and strategic importance.

He said business communities of both the countries should fully leverage Pakistan’s strategic location and the economic opportunities available in the country.

The Ambassador said the top leadership of Pakistan and the United States is committed to promoting bilateral economic relations and fully utilizing existing capacities.

US Assistant Secretary of State for South and Central Asia Paul Kapur noted that despite past ups and downs, Pakistan-U.S. relations have remained important in every era.

Paul Kapur said there are immense opportunities to promote economic cooperation between the two countries, emphasizing that as a friend and a partner, we will have to work to take advantage of these opportunities.