US Trade Representative wants to boost Trade with Pakistan
News Report
Assistant U.S. Trade Representative (AUSTR) for South and Central Asia Christopher Wilson held a meeting with Pakistani businessmen to share ideas to boost bilateral trade relations.
U.S. Embassy Islamabad Chargé d’affaires Angela P. Aggeler has hosted a roundtable in this regard.
The purpose was to bring together leaders of major U.S. and Pakistani businesses with Assistant U.S. Trade Representative (AUSTR) for South and Central Asia Christopher Wilson to boost bilateral trade relations.
While highlighting the importance of strengthening the U.S.-Pakistani economic relationship, Chargé d’affaires Aggeler said the United States has been Pakistan’s largest export market and one of Pakistan’s largest sources of foreign investment for years.
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She added the roundtable with AUSTR Wilson provided an opportunity to discuss Pakistan’s business climate and brainstorm ways to boost economic and commercial relations.
AUSTR’s perspectives on trade and investment discussed the challenges and opportunities to expand U.S.-Pakistani commerce.
Private sector participants gave their inputs on Pakistan’s business environment and expressed their desire to expand commerce.
Assistant USTR Christopher Wilson appreciated the opportunity to hear directly from Pakistan’s business community about their aspirations for U.S.-Pakistan trade relations, and to convey a summary of the U.S. government’s policy priorities as we seek to strengthen commercial ties and Pakistan’s business climate.”
US Pakistan Trade Relations
The United States has been a trusted friend of Pakistan that provided a market opportunity for Pakistani exporters.
At present, trade between Pakistan and United States is in favor of the former.
Pakistan and US annual trade volume amounts to US$ 6 billion. Out of the total, Pakistani businessmen export products worth US$ 4billion to the US market whereas US exports to Pakistan amount to $2 billion.
Therefore, trade volume is in favor of Pakistan.
In addition, the US-allied block European Union has been a big market for Pakistani exports that provided GSP Plus scheme for Pakistani exports.
The United States has also provided technical expertise in different sectors.
It had also extended legal support in striking an LNG deal with Qatar that had rescued Pakistani at a time when the world witnessed a huge spike in prices.
Pakistan had also exported two LNG cargoes at higher rates ranging between US$25 to $30 per MMBtu.
However, there had been cold relations between two old friendly countries during recent relations.
The US had titled policies towards India.
Especially, Joe Biden President of the USA had not extended a warm welcome to Pakistan and even did not send an invitation to the Pakistani Prime Minister to attend the oath-taking ceremony.
