The Federal Minister for Commerce, Mohammad Pervaiz Malik said this in a meeting with U.S Ambassador to Pakistan, Mr. David Hale who called on the Federal Minister for Commerce today.
The Commerce Minister said that Pakistan and USA have cordial Trade Relations and that Trade between Pakistan and US stood at 6 billion USD during the last FY 2016-17. He said that the trade relations between the two countries are governed by Trade and Investment Framework Agreement (TIFA) which was signed in 2003 and covers Pak-US GSP Programme and Business Opportunities Conference (BOC). BOC is a government to government arrangement and Pakistan is preparing to host fifth BOC.
Mr. Mohammad Pervaiz Malik said that Pakistan is also looking forward to further improve bilateral trade with Afghanistan and facilitate the transit trade. “Pakistan is looking forward to holding the 7th APTTCA meeting which was scheduled on 10th – 11th September, 2017 but was unilaterally postponed by the Afghan side”, added the minister. He said that U.S should extend cooperation to Pakistan in different sectors particularly agriculture.
U.S Ambassador to Pakistan, Mr. David Hale said that Pakistan is lucrative for investment and that U.S businesses are interested in investing in Pakistan. He further said that GSP is the key and Pakistan is making good use of it. Mr. David Hale said that Business Opportunities Conference will help Pakistan in building awareness of U.S businesses and will result in sector wise discussion and cooperation.
Earlier, the European Union (EU) Ambassador to Pakistan Mr. Jean Francois Cautain called on Federal Minister for Commerce, Mohammad Pervaiz Malik. Matters of mutual interest were discussed in the meeting.