During a recent press conference, a spokesman for the US State Department emphasized the importance of expanding bilateral trade with Pakistan, citing its potential to contribute to Pakistan’s economic stability. The relationship between the two countries has become even more crucial in light of Pakistan’s recovery from devastating floods and the opportunities it presents to US businesses. The US Trade and Investment Framework Agreement (TIFA) council minister recently hosted a meeting with trade representative Ambassador Tai to deepen economic and commercial ties between the two nations.
According to the US spokesperson, the US-Pakistan trade relationship has helped both Pakistan’s industry and consumer prices. He also stated that the US has long been Pakistan’s largest export market, with the potential for further growth in sectors such as energy, agriculture, equipment and products, franchising, retail trade, information and communication technology products and services. American investment in Pakistan has increased by 50% in recent years, with US corporations announcing more than $1.5 billion in investment plans since 2019.
The US spokesperson noted that American companies and their local affiliates are among Pakistan’s largest employers, with roughly 80 US companies directly employing 12,000 Pakistanis. He also acknowledges that Pakistan is facing the threat of terrorism, and that the US engagement with Pakistan is rooted in the shared interest of ensuring that groups such as the Taliban, ISIS, TTP, and Al Qaida no longer pose a threat to regional stability.
A delegation of Pakistani officials recently visit the US for the TIFA Council ministerial meeting, which was chair by US trade representative Ambassador, Katherine Tai and Pakistan Minister for Commerce Syed Naveed Qamar. The meeting, held after an eight-year gap, discussed efforts to improve workers’ rights and protection in Pakistan and to strengthen its intellectual property regime. Both sides expressed a commitment to accelerating the operationalization of these efforts.