- Pakistan-US commerce group assembly after nearly 8 years.
- Commerce Minister is in Washignton to attend group’s foremost assembly.
- Minister welcomes resumption of group geared toward boosting bilateral commerce.
WASHINGTON: Minister for Commerce Syed Naveed Qamar welcomed the resumption of Pakistan-US Trade Funding Framework Settlement (TIFA) ministerial assembly after a spot of just about 8 years terming it ‘crucial’ in the direction of enhancing bilateral commerce ties, being the main target of Pak-US relations.
The minister met US Particular Consultant for Business and Enterprise Affairs Dilawar Syed on the Embassy of Pakistan in Washington to debate methods and means for enhancing Pak-US bilateral commerce.
Dilawar Sayed was accompanied by Elizabeth Horst, Principal Deputy Assistant Secretary and Deputy Assistant Secretary for Pakistan, Brian J. McGrath and Jeff Rubenstein. Ambassador Masood Khan, Secretary Commerce Muhammad Sualeh Ahmad Faruqui, Secretary BOI Asad Gilani and Minister (Commerce) Azmat Mahmood assisted the Commerce Minister.
The minister of commerce is visiting Washington DC to attend the TIFA ministerial assembly which shall be held tomorrow. The final TIFA ministerial assembly was held in 2016 in Islamabad.
Issues associated to Pak-US bilateral commerce, overseas direct investments in Pakistan, enterprise operations of US firms working within the nation and Pakistan’s exports to america had been mentioned in the course of the assembly. Operational and regulatory points additionally got here underneath dialogue.
“The momentum being generated with the resumption of those excessive stage talks would result in a breakthrough in realizing commerce potential between the 2 nations,” mentioned the Commerce Minister.
Noting bilateral commerce quantity of round $12 billion, Naveed Qamar mentioned that the current commerce figures don’t mirror the true potential present between the 2 nations, preserving in view the scale of the US economic system and an enormous market in Pakistan with a sizeable and vibrant center class and youth bulge. Pakistan, he mentioned, seemed ahead to larger interplay particularly within the areas of IT, tech, agriculture and different sectors.
US Particular Consultant for Business and Enterprise Affairs Dilawar Syed mentioned that there have been important alternatives obtainable ‘in an enormous and wholesome market’ to enhance bilateral trade.
Principal Deputy Assistant Secretary and Deputy Assistant Secretary for Pakistan Elizabeth Horst in her remarks said that United States wished Pak-US relationship to additional develop.
Discussing commerce associated operational points, it was determined to nominate a focal individual, on each side, to prioritise, coordinate and guarantee removing of impediments for clean functioning of the companies.
The minister additionally raised the difficulty of export of Pakistani mangoes to america with US Particular Consultant and known as for early finalization of mechanism to facilitate larger exports of mangoes to america.
The 2 sides expressed the hope that TIFA assembly would function a catalyst in boosting commerce ties and additional strengthening Pak-US relations bearing hallmark of robust financial sinews and forex.
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