Pakistan’s commerce minister, senior U.S. business affairs official discuss ways to boost bilateral trade

PPP working to bring all political parties at negotiation table

WASHINGTON, Feb 23 (APP): Ahead of the Pakistan-United States Trade Investment Framework Agreement (TIFA) ministerial meeting, the visiting Commerce Minister, Syed Naveed Qamar, and the U.S. Special Representative for Commercial and Business Affairs, Dilawar Syed, discussed ways to enhance the volume of trade between the two countries.

Sayed was accompanied among others by Elizabeth Horst, principal deputy assistant secretary and deputy assistant secretary for Pakistan.

Ambassador Masood Khan, Commerce Secretary Muhammad Sualeh Ahmad Faruqui, the Board of Investment (BOI) Secretary, Asad Gilani and Minister (Trade) at the Pakistani embassy, Azmat Mahmood, assisted the commerce minister.

Matters related to Pak-US bilateral trade, foreign direct investments in Pakistan, business operation of American companies working in the country and Pakistan’s exports to the United States were discussed during the meeting, according to a press release of the Pakistani embassy where the discussions took place. Operational and regulatory issues also came under review.

In his remarks, the commerce minister welcomed the resumption of TIFA ministerial meeting after a gap of almost 8 years terming it ‘critical’ towards enhancing bilateral trade ties, being the focus of Pak-US relations.

“The momentum being generated with the resumption of these high-level talks would lead to a breakthrough in realizing trade potential between the two countries,” Naveed Qamar said.

Noting a bilateral trade volume of around $12 billion, the minister said that the present trade figures do not reflect the true potential existing between the two countries, keeping in view the size of U.S. economy and a huge market of Pakistan with a sizeable and vibrant middle class and youth bulge.

Pakistan, he said, looked forward to a greater interaction especially in the areas of IT, tech, agriculture and other sectors.

Sayed, the U.S. special representative for commercial and business affairs, said that there were significant opportunities available ‘in a massive and healthy market’ to enhance our bilateral trade.

Ms. Horst, the principal deputy assistant secretary and deputy Assistant Secretary for Pakistan, stated that the United States wanted Pak-US relationship to further grow.

Discussing trade related operational issues, it was decided to appoint a focal person, on both sides, to prioritize, coordinate and ensure removal of impediments for smooth functioning of the businesses.

The commerce minister also raised the issue of export of Pakistani mangoes to the United States with U.S. Special Representative and called for early finalization of mechanism to facilitate greater exports of the fruit.

The two sides expressed the hope that TIFA meeting would serve as a catalyst in boosting trade ties and further strengthening Pak-US relations, the press release said.

APP Services