By Muhammad Luqman
United States Secretary of Commerce Wilbur Ross has said that America was willing to enhance investment in Pakistan and that the US supported trade and development in this part of the world.
Ross made these comments during a meeting with Advisor to the Prime Minister on Commerce , Abdul Razak Dawood as the two met in the capital, Islamabad to discuss bilateral trade ties.
“We fully support trade and development in the country. Pakistan needs to enhance bilateral ties with US,” Ross said.
It was an honor to meet with U.S. companies based in Pakistan and discuss ways the U.S. government can support improving prospects for their success. Protecting their interests and removing tariff and non-tariff barriers is a priority for the @realDonaldTrump Administration. https://t.co/hD0xXAeIdx
— Sec. Wilbur Ross (@SecretaryRoss) February 26, 2020
Razzak, on the other hand, said they will provide all the facilities to the exporters. “We are taking steps to make this a favourable trade environment. There are many business opportunities for US businessmen in the country.”
He added that textile and other products should also be granted preferential trade agreement. “US companies can set up factories in Pakistan to export their product in other markets. These companies can experience the benefit in Pakistan.”
Very successful visit of the US Secretary Commerce, Mr. Wilbur Ross.
We discussed increasing trade and investment coming into the energy sector, food processing and agriculture. Both sides agreed to upgrade the level of engagement; the next meeting will be held in Washington DC. pic.twitter.com/sHhJOT791S— Abdul Razak Dawood (@razak_dawood) February 26, 2020
Razak said the talks have yielded a new era of economic relations between the two countries. “The US secretary has asked us to take measures to increase bilateral trade.”
“We will hold a Pak-US ‘Business Opportunity Conference’,” he shared.
Earlier, Ross also met with chief executives of US companies doing in business in Pakistan. According to a tweet posted by the US embassy in Islamabad, US exported $2.6 billion worth of goods to Pakistan in 2019.
“US companies made more than $1.4 billion in direct investments in Pakistan since 2016,” it added.
