Islamabad, Sep 20: The US Trade Representative Katherine Tae and Pakistan’s Commerce Minister Jam Kamal met on Thursday to discuss improving bilateral trade relations between the two formerly close friends. They decided to hold the crucial Trade and Investment Framework Agreement (TIFA) negotiations “soon.”
Through TIFA, Pakistan and the US can enhance market access, encourage bilateral investment and trade, settle disputes, and work on trade-related issues between the two nations. In February 2023, during the 9th meeting of the Pakistan-United States Trade and Investment Framework Agreement (TIFA) Council, Pakistan and the US engaged in high-level trade negotiations. It was seven years later that they met.
In a virtual conference with Tai, Khan stated that Pakistan wants to continue growing its trade with America and that it is still the country’s “top trading destination.” The commerce ministry released a statement saying, “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.”
According to the ministry, Khan emphasized Pakistan’s “strong performance” in the agricultural sector, notably with regard to dates and mangoes. He also discussed the possibility of expansion in value-added agro-services. According to the statement, Tai commended Pakistan for its efforts, especially its agricultural exports, and highlighted the high caliber of its mangoes.
According to the trade ministry, Tai has been asked by Minister Jam Kamal to visit Pakistan’s TEXPO in October. Tai expressed his gratitude for the invitation and his desire to attend the event, according to the statement. Tai extended an invitation to Kamal to come to Washington in exchange for further information on potential trade between the two nations.
