US launches an initiative to enhance bilateral Trade
The US launches an initiative to increase bilateral trade between the United States and Pakistan.
U.S. Ambassador Donald Blome and Pakistan’s Minister of State for Finance and Revenue, Dr. Ayesha Ghaus Pasha, officially launched a U.S. government-led programme to expand bilateral trade between the two countries in recognition of Global Entrepreneurship Week.
With room for expansion, the United States has long been Pakistan’s top export market.
The U.S. According to the Census Bureau, the United States imported nearly $5.3 billion worth of goods from Pakistan in 2021, and American investment in Pakistan increased by 50% in the previous 12 months.
The Investment Promotion Activity (IPA), carried out by the United States Agency for International Development (USAID), is a five-year project to improve the business climate in Pakistan, increase the capacity of Pakistani institutions dedicated to investment promotion, draw foreign direct investment, and boost bilateral trade and investment between the United States and Pakistan.
The project’s overall goal is to increase Pakistan’s capacity for investment promotion in order to lower trade and investment barriers.
Additionally, the project will offer grants to Pakistani-registered businesses that are eager to expand their trade with the United States and have the potential to draw in foreign direct investments.
These grants will be essential in establishing connections between Pakistani businesses and investors in the US and other nations.
During the launch event, a Fireside Chat on U.S.-Pakistan Bilateral Trade Opportunities, Ambassador Blome said, “The United States has been a leading investor in Pakistan for the past 20 years, and U.S. investment in Pakistan is at its highest level in more than a decade.
We are continually working to increase bilateral trade, increase investment, and improve entrepreneurial and educational opportunities for Pakistanis, building on and expanding that solid foundation of economic cooperation.
As part of the U.S. government’s long-term commitment to assisting Pakistanis in securing a more prosperous future, USAID is working closely with the Government of Pakistan to streamline its business practices.US plans to expand agriculture trade with Pakistan
It aims at enhancing governance, promote regulatory reforms, and fostering competition with the aim of reducing the cost of doing business and strengthening the investment climate for foreign investors in Pakistan.
The recently launched initiative will promote chances for increased trade and investment between American and Pakistani businesses.
