https://arab.news/geukk
- Trade and Investment Framework Agreement serves as platform for both countries to resolve issues related to bilateral trade
- Commerce minister says US remains Pakistan’s” top” trading destination, calls for strengthening bilateral trade relations
ISLAMABAD: Pakistan’s Commerce Minister Jam Kamal and US Trade Representative Katherine Tae on Thursday held talks focused on enhancing bilateral trade relations between the once close allies, with both sides agreeing to schedule the key Trade and Investment Framework Agreement (TIFA) talks “soon.”
TIFA serves as a platform for Pakistan and the US to improve market access, promote bilateral trade and investment, resolve disputes, and work on trade-related issues between the two countries.
Pakistan and the US took part in high-level trade talks in Feb. 2023 when both countries participated in the 9th Pakistan-United States Trade and Investment Framework Agreement (TIFA) Council meeting. That meeting took place after seven years.
Khan held a virtual meeting with Tai during which he said America remains Pakistan’s “top trading destination, expressing his country’s desire to further expand this partnership.
“During the meeting, it was confirmed that the next Trade and Investment Framework Agreement (TIFA) meeting would be scheduled soon, along with discussions on agriculture, textiles, women’s empowerment, IT and E-commerce,” the commerce ministry said in a statement.
Khan highlighted Pakistan’s “strong performance” in the agriculture sector, particularly in mangoes and dates, the ministry said, adding that he also spoke about the potential for growth in value-added agro-services.
Tai acknowledged Pakistan’s contributions, particularly its agricultural exports, and praised the quality of Pakistani mangoes, the statement said.
“Minister Jam Kamal invited Tai to attend Pakistan’s TEXPO in October,” the commerce ministry said. It said Tai was grateful for the invitation and expressed interest in attending the event.
In return, Tai invited Kamal to visit Washington to further explore trade opportunities between the two countries.