Washington (Web Desk): The United States (US) has said that its robust trade relationship with Pakistan is more important than ever to bolster the latter’s economic stability as it recovers from last year's devastating floods.
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.
He said that the US’ trade relationship with Pakistan has helped both Pakistani industries and consumers, adding that “there is 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”.
The State Department spokesperson said that the US has been a leading investor in Pakistan for the past two decades and that investments have increased by some 50 per cent.
“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. 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,” he added.
The comments by Price come at a time when Pakistan's commerce minister is in Washington where he co-chaired a meeting of the Pakistan-US TIFA Council looking for breakthroughs in agriculture and information technology.
Responding 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”.
"The United States and Pakistan have a shared interest in ensuring the Taliban live up to the commitments that they have made, and that terrorist groups that may be active in Afghanistan, like Daesh, TTP, al-Qaida, are no longer able to threaten regional stability," the spokesperson said.