Pakistan PM calls for stronger trade and investment relations with US

Pakistan PM calls for stronger trade and investment relations with US
A State Department contractor adjust Pakistan national flag before a meeting at the State Department in Washington, US, on February 19, 2015. (REUTERS/File)
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Updated 04 July 2022
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Pakistan PM calls for stronger trade and investment relations with US

Pakistan PM calls for stronger trade and investment relations with US
  • Sharif congratulates Americans on independence day, seeks constructive engagement with Washington
  • Statistics reveal Pakistan’s exports to the US surged by 23 percent during the last fiscal year

ISLAMABAD: Prime Minister Shehbaz Sharif said on Monday his government was keen to strengthen relations with the United States and promote greater trade and investment between the two countries while congratulating Americans on their independence day.

Pakistan has repeatedly expressed its desire to broaden and deepen its relations with the US in recent years while calling for sustained economic cooperation. The two countries worked closely during the Cold War era, though their ties mostly centered on their defense and security requirements.

According to Pakistan’s diplomatic mission in Washington, the country’s exports to the US witnessed a substantial increase of 23 percent during the last fiscal year, showing a positive trade trend between the two countries.

“It is my pleasure to extend heartiest felicitations & greetings to the people & government of the United States on their Independence Day,” the prime minister wrote in a Twitter post. “My [government] looks forward to engaging with the Biden Administration at all levels to promote our bilateral relations including trade & investment.”

The US has traditionally been an important trade partner and the single largest export destination of Pakistan.

The country’s envoy in Washington recently said Pakistan’s exports of goods to the US had reached $6.16 billion by the end of May 2022.

He also informed that exports in the IT and services sectors had crossed $2 billion, taking the cumulative export volume beyond $8 billion during the last fiscal year.

Pakistan has also expressed hope the bilateral partnership between the two countries in the tech sector would further strengthen in the coming years.