ISLAMABAD, Feb 24 (APP):Concluding the ninth meeting of Trade and Investment Framework Agreements (TIFAs), Pakistan and United States decided to further enhance bilateral economic relationship for shared prosperity of both the countries.
The TIFA meeting was co-chaired by US Trade representative Katherine Tai and Minister for Commerce Syed Naveed Qamar, according to joint press statement issued at the conclusion of discussions.
Both the sides discussed issues and concerns related to agriculture, digital trade, intellectual property protection, enforcement, labor rights, good regulatory practices, and women’s economic empowerment.
They decided to increase dialogue on these sectors to deepen bilateral economic relationship and promote prosperity of working people in both the countries.
Recognizing the importance of agricultural and digital trade to the economic relationship, the concerned officials were directed to intensify engagement in these areas in advance of the next TIFA Council meeting.
The US appreciated Pakistan’s efforts in improving workers’ rights, protections and strengthening of its intellectual property regime. Both sides affirmed the importance of an effective IP regime, achieving high labor standards, and following good regulatory practices.
US welcomed the substantive conclusion of technical work on market access for beef from the United States, and both the sides noted that work to operationalize this arrangement would be expedited.
Both sides expressed their intent to enhance engagement on market access and the reduction of barriers for additional agricultural products.
Pakistan welcomed the ongoing engagement on market access for its mangoes and fresh dates, and asked the US to review additional market access requests for agricultural products once the current work is complete.
The joint statement reflected progress and commitments under the Memorandum of Understanding (MOU) on joint efforts to empower women and to promote women’s entrepreneurship.
The initiative would help elevate women’s role in Pakistan’s long-term economic growth by supporting supplier diversity and inclusive value chains, mentorship and peer learning, and equitable and inclusive access to the global marketplace.