US says sturdy commerce relationship necessary to bolster Pakistan’s financial stability – Enterprise

A “sturdy commerce relationship” between the US and Pakistan is necessary to bolster the latter’s financial stability, particularly after final yr’s devastating floods, and expose American companies to new markets, the US State Division has mentioned.

State Division spokesperson Ned Worth made the remarks in response to a question at a weekly press briefing on Thursday.

“We consider {that a} sturdy commerce relationship between the US and Pakistan is extra necessary than ever to bolster Pakistan’s financial stability because it recovers from devastating floods, whereas on the identical time additionally offering a possibility to People and to American companies on this nation, exposing them to new markets — Pakistani markets on this case,” he mentioned.

The feedback come at a time when Pakistan is on the lookout for breakthroughs in talks on the US-Pakistan Commerce and Funding Framework Settlement (TIFA).

The 2 sides on Thursday held their first ministerial-level assembly of a Pak-US commerce and funding physique in seven years, the place Commerce Minister Syed Naveed Qamar sought better cooperation within the IT sector.

Talking to the press in the present day, Worth referred to the assembly and reiterated the US dedication to “deepening our financial and industrial ties with Pakistan”, including the commerce relationship has “helped each Pakistani industries and customers”.

“We’ve got lengthy been Pakistan’s largest export market, with potential for even additional development. And we consider there may be nice potential to develop bilateral commerce with Pakistan additional, notably in vitality, agricultural gear and merchandise, franchising, retail commerce, data and communications know-how services and products,” he mentioned.

Moreover, Worth identified that the US was a number one investor in Pakistan for the previous twenty years, with investments growing to 50 per cent up to now yr.

“US funding in Pakistan is the very best it’s been in over a decade, and US firms have introduced greater than $1.5 billion in funding plans in Pakistan since 2019.

“US firms and their native associates, furthermore, are amongst Pakistan’s largest employers, with roughly 80 US firms straight using greater than 120,000 Pakistanis,” the spokesperson added.

one-day visit to Kabul.

The delegation amongst others included ISI Chief Lt Gen Nadeem Anjum, Overseas Secretary Asad Majid, Particular Envoy on Afghanistan Muhammad Sadiq and Pakistan’s chargé d’affaires in Afghanistan Obaid Nizamani.

Through the assembly, the 2 sides agreed to collaborate to successfully handle the specter of terrorism.

Over the previous few months, terrorism has been rearing its head once more within the nation, particularly in KP and Balochistan. There was an increase in terrorist assaults believed to have been deliberate and directed by Tehreek-e-Taliban (TTP) leaders based mostly in Afghanistan.

The TTP, which has ideological linkages with the Afghan Taliban, executed greater than 100 assaults final yr, most of which occurred after August when the group’s peace talks with the Pakistan authorities started to falter. The ceasefire was formally ended final yr on Nov 28 by the TTP.

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