The United States on Thursday stated that it sees a strong trade relationship with Pakistan as an exemplification of its commitment to deepening economic and commercial ties with Pakistan.
During a regular press briefing, State Department Spokesperson Ned Price was asked to share his views about the increase of American investments in Pakistan and how the U.S. can help Islamabad to take them out from the current economic crisis?
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Ned Price answered 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.
US trade relationship with Pakistan has helped both Pakistani industries and consumers, he said.
“We have long been Pakistan’s largest export market, with the potential for even further growth, hence the meeting today. And we believe 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.”
America has been a leading investor in Pakistan for the past two decades, and in the past year, its investments have increased by some 50%.
“The U.S. investment in Pakistan is the highest it’s been in over a decade, and U.S. corporations have announced more than $1.5 billion in investment plans in Pakistan since 2019. U.S. companies and their local affiliates, moreover, are among Pakistan’s largest employers, with roughly 80 U.S. companies directly employing more than 120,000 Pakistanis.”
