India-Pak bilateral breakthrough can be catalyst

Coimbatore:  A bilateral breakthrough between India and Pakistan could be a catalyst for wider regional economic integration, benefitting entreprenuers, farmers and business people of both nations, a top US diplomat said here on Friday.

"India`s economic rise presents an enormous opportunity for for Pakistan and normalisation of economic ties can provide immense benefit to millions of entrepreneurs, farmers and business people in both countries," Jennifer A Mcintyre, US Consul General, Chennai, said here on Friday.

"More critically, a breakthrough between the countries will provide regional economic integration a transformative goal we all wish to see," she said, addressing students at the PSG College here.

Stating that India and U.S can benefit from sharing resources and expertise, she said leaders and officials of the two countries work together when they meet on a shared agenda for progress, prosperity and security, with implications for India, the USA and broader world.

Jennifer said the U.S. was working to methodically address trade and investment barriers and foster market openings which position them to capitalize on this continuous growth and allow their private sector to thrive

She said total stock of FDI from India to US was almost 5.5 billion USD at end of 2009, growing approximately at 35 per cent between 2005 to 2009, making India the seventh fastest growing source of FDI into US.