Pak-US Officials Engage To Enhance Trade, Investment Ties

Officials of the United States and Pakistan held an inter-sessional meeting under the Trade and Investment Framework Agreement (TIFA) on Thursday

ISLAMABAD, (UrduPoint / Pakistan Point News - 25th Apr, 2024) Officials of the United States and Pakistan held an inter-sessional meeting under the Trade and Investment Framework Agreement (TIFA) on Thursday .

According to the acting US Mission spokesperson Thomas Montgomery, a broad range of areas to improve bilateral trade and investment relationship came under discussion in the meeting.

The dialogue focused on good regulatory practices, digital trade, protection of intellectual property, women’s economic empowerment, labour, textiles, investment, and agriculture, which include progress on access for the US biotechnology products and beef.

Spokesperson Thomas Montgomery said coming on the heels of Finance Minister Muhammad Aurengzeb’s recent visit to the United States, engagements like the TIFA were key to moving forward on the shared goals of deepening the economic bilateral relationship and furthering the prosperity of working people in both countries.

He said the US had long been Pakistan’s largest export market, with potential for further growth.

In 2023, the United States imported Pakistani goods worth $5 billion, while overall US-Pakistan goods trade measured $7 billion.

"The United States has also been a leading investor in Pakistan for the past 20 years and more than 80 US companies currently operate in Pakistan, supplying high quality goods to the Pakistani market and employing hundreds of thousands of Pakistanis," the spokesperson added.