The United States said its strong trade relationship with Pakistan was crucial as the country recovered from last year’s devastating floods.
Addressing a press briefing in Washington on Thursday, US State Department Spokesman Ned Price said that the ministerial meeting of the Trade and Investment Framework Agreement (TIFA) Council was hosted by US Trade Representative Ambassador Tai to discuss economic and trade relations with Pakistan. It exemplified the US commitment to deepen trade relations.
“We believe that a strong trade relationship between the United States and Pakistan is more important than ever to bolster Pakistan’s economic stability as it recovers from the devastating floods, as well as to strengthen the relationship between Americans and Americans in the country. It’s also giving businesses opportunities, taking them to new markets — in this case Pakistani markets,” he said.
He said that the US trade relationship with Pakistan has helped both Pakistani industries and consumers, adding, “We have long been Pakistan’s largest export market, with potential for further growth.” are.”
The State Department spokesperson said his country believes there is great potential to further expand bilateral trade with Pakistan, particularly in energy, agricultural equipment and products, franchising, retail trade, information and communication technology products and services.
He said that America has been the leading investor in Pakistan for the last two decades and the country’s investment has increased by almost 50% in the last one year.
US investment in Pakistan is the highest it has been in a decade, and US corporations have announced plans to invest more than $1.5 billion in Pakistan since 2019, he added, adding, “US companies and their Local affiliates, in addition, are among Pakistan’s largest companies. Employers, with nearly 80 American companies directly employing more than 120,000 Pakistanis.”
Price also spoke about the threat of terrorism facing Pakistan. He said that the US engagement is rooted in the fact that terrorism is a menace that has claimed many Pakistani, Afghan and other innocent lives over the years.
“The United States and Pakistan share a common interest in ensuring that the Taliban follow through on the promises they have made, and that terrorist groups that may be active in Afghanistan — such as ISIS, the TTP, al-Qaeda, are no longer capable of threatening regional stability,” he asserted.
