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Asian Tribune is published by World Institute For Asian Studies|Powered by WIAS Vol. 12 No. 2710

Pak-US reps discuss trade, economic issues

By Wajid Ali Syed – Washington Correspondent for Asian Tribune

Washington, 28 April, (Asiantribune.com): The Trade and Investment Framework Agreement (TIFA) members of Pakistan and United States met here today and announced to continue cooperation on Economic and trade issues. Both countries signed the TIFA agreement in 2003 and this was the third meeting they had since then.

The meeting covered four areas, which include:

1) Pakistan’s preparations for implementing Afghanistan and Pakistan Reconstruction Opportunity Zones (ROZ), for which legislation is now pending in the US Congress;

2) South and Central Asia regional trade issues;

3) investment climate issues, including bilateral trade issues, Pakistan’s privatization plans, intellectual property rights, and current programs in Pakistan of the US Export-Import Bank, Overseas Private Investment Corporation, and US Trade and Development Agency; and

4) a review of ongoing agricultural cooperation programs by the US Department of Agriculture and US Agency for International Development, and ideas for expanding agricultural cooperation.

Both parties also discussed the importance of improving trade among South Asian neighbors and between South and Central Asia.

Keeping in mind the continuing strong commitment of the United States to support Pakistan and Afghanistan, the parties also noted the need for Pakistan and Afghanistan to make required improvements to the Pakistan and Afghanistan Transit Trade Agreement that are currently under consideration. The United States presented data on Pakistan’s usage of the US Generalized System of Preferences benefits, and Pakistan provided an update on progress of the South Asia Free Trade Agreement (SAFTA).

The representatives of both countries noted that the long term, solid economic, trade, and investment policies will create jobs, boost investment, and build sustainable development. The TIFA will meet next month at the US-Pakistan-Afghanistan Trilateral meetings to finalize further concerned issues.

- Asian Tribune -

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