Pak, US strengthen bilateral trade ties and investment opportunities

The United States and Pakistan have taken a significant step towards strengthening their bilateral trade relations and exploring new investment opportunities, reported the 24NewsHD TV channel on Tuesday.

This positive development emerged during a virtual meeting between United States Trade Representative Katherine Tai and Pakistan's Caretaker Federal Minister for Commerce, Industries, and Production, Dr. Gohar Ejaz.

The meeting, which followed the 9th Pakistan-America Trade and Investment Framework Agreement Council gathering, focused on advancing the trade and investment landscape between the two nations.

Dr. Gohar Ejaz extended a request to the US Trade Representative, urging consideration of duty-free access for Pakistan's textile and garment exports to the United States. He emphasized Pakistan's significant reliance on American cotton imports and proposed exploring joint ventures in textile and industrial manufacturing to enrich bilateral trade relationships.

 Highlighting the burgeoning potential in Pakistan's Information Technology sector, the minister emphasized that the United States is the prime destination for IT exports from Pakistan. Both countries can mutually benefit from Pakistan's IT prowess, contributing to the economic growth of both nations.

 Furthermore, Minister Ejaz shared insights into Pakistan's ongoing efforts to improve the business environment, fostering a conducive atmosphere for trade and investments in the country.

Katherine Tai expressed her optimism about the enduring relationship between the two nations and highlighted the encouragement they draw from this continued collaboration.

She affirmed that both countries are committed to working together on matters pertaining to bilateral trade and investment.