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US trade ties vital for economic stability in Pakistan: Ned Price
The United States said that its robust trade relationship with Pakistan was crucial as the country recovers from the effects of the devastating floods last year. Addressing a press briefing in Washington on Thursday, US State Department Spokesperson Ned Price said that the Trade and Investment Framework Agreement (TIFA) Council ministerial meeting hosted by the […]
The United States said that its robust trade relationship with Pakistan was crucial as the country recovers from the effects of the devastating floods last year.
Addressing a press briefing in Washington on Thursday, US State Department Spokesperson Ned Price said that the Trade and Investment Framework Agreement (TIFA) Council ministerial meeting hosted by the US Trade Representative Ambassador Tai exemplified American commitment to deepening economic and commercial ties with Pakistan.
“We believe that a robust trade relationship between the United States and Pakistan is more important than ever to bolster Pakistan’s economic stability as it recovers from devastating floods, while at the same time also providing opportunity to Americans and to American businesses in this country, exposing them to new markets – Pakistani markets in this case,” he said.
The US trade relationship with Pakistan has helped both Pakistani industries and consumers, he said, adding, “We have long been Pakistan’s largest export market, with potential for even further growth.”
The State Department spokesman said that his country believed that there was great potential to expand bilateral trade with Pakistan further, particularly in energy, agricultural equipment and products, franchising, retail trade, information and communications technology products and services.
America has been a leading investor in Pakistan for the past two decades, and in the past year the country’s investments have increased by some 50 percent, he maintained.
US investment in Pakistan is the highest it’s been in over a decade, and US corporations have announced more than $1.5 billion in investment plans in Pakistan since 2019, he said, adding, “US companies and their local affiliates, moreover, are among Pakistan’s largest employers, with roughly 80 US companies directly employing more than 120,000 Pakistanis.” In response to a question on the rise in terror incidents in the region, Price said that the US and Pakistan “have a shared interest in ensuring the [Afghan] Taliban live up to the commitments that they have made”.
“That terrorist groups that may be active in Afghanistan […] are no longer able to threaten regional stability. “Our engagement on this subject is rooted in the fact that terrorism is a threat that has taken many Pakistani, Afghan, and other innocent lives over the course of far too many years now,” the spokesperson added.
On Wednesday, a high-ranking Pakistani delegation met Taliban Deputy Prime Minister Mullah Abdul Ghani Beradar Akhund, Defence Minister Mawlavi Mohammad Yaqoob Mujahid, Interior Minister Sirajuddin Haqqani and Foreign Minister Amir Khan Muttaqi in a one-day visit to Kabul. The delegation among others included ISI Chief Lt Gen Nadeem Anjum, Foreign Secretary Asad Majid, Special Envoy on Afghanistan Muhammad Sadiq and Pakistan’s chargé d’affaires in Afghanistan Obaid Nizamani. During the meeting, the two sides agreed to collaborate to effectively address the threat of terrorism.
