ISLAMABAD. Pakistan and the United States (US) have re-launched the Trade and Investment Framework Agreement (TIFA) process to promote trade and investment for the benefit of both the countries, Assistant US Trade Representative (AUSTR) for South and Central Asia, Christopher Wilson said.
“We succeeded in re-launching the TIFA… we feel quite satisfied,” AUSTR said in a virtual press talk with a select group of journalists after holding negotiations with ministry of commerce.
He said that a number of challenges in the relationship and difficulties that needed to be overcome were discussed in the meetings. “There was a very positive dynamic in the discussion,” he remarked.
He said the purpose of their visit to Islamabad was to principally cover some meetings related to TIFA mechanism that US had negotiated with Pakistan some years ago. The mechanism provides a structure to both the governments to engage in future trade and investment.
He was of the view that there had not been lot of activity under the TIFA for several years, so it was important to revive and effectively re-launch the process.
Wilson said, during the meetings, issues related to trade, market access, workers’ rights and regulatory practices were discussed. He said, both sides felt these meetings to be productive and realized the importance of re-launching TIFA process, which has a lot of value for both the governments.
He expressed the hope that this process would be sustained at AUSTR level and potentially at the level of trade ministers of both the countries.
To a question, he said, Pakistan had been beneficiary of the US Generalized System of Preferences (GSP). He said, since the GSP was expired, hence neither Pakistan nor any other trading partner of US was receiving those trade preferences.
He said, the US congress was currently considering the reauthorization and renewal of GSP programme.
To a question, he said the current discussions were completely focused on trade and economic issues and there was no political discussion.
I just want to underscore that our visit was for reinforcing the trade and economic dimension of the relationship between US and Pakistan, Christopher added.
He said there was no discussion on Bilateral Investment Treaty (BIT) adding that the US delegation received updated information form the government of Pakistan on legal framework for intellectual property and undertaking of enforcement for ensuring intellectual property rights.
He was of the view that both the countries can and should expand bilateral trade relationship for mutual benefit.—APP
BR correspondent adds: Pakistan and the United States have to further strengthen bilateral relations and to take steps to enhance trade and economic cooperation. This was stated in an official statement issued by the Commerce Minister on the completion of an inter-sessional meeting under Pakistan-United States Trade & Investment Framework Agreement (TIFA).
Muhammad Sualeh Ahmad Faruqui, Federal Secretary Commerce, co-chaired the meeting along with Christopher Wilson, Assistant United States Trade Representative (AUSTR) for South and Central Asia.
The Secretary Commerce appreciated the visit of AUSTR which is coinciding with the 75th anniversary of establishment of diplomatic ties between Pakistan and the US and it is a testament to our mutual relationship.
The Commerce Ministry in its official statement further stated that it was agreed to further strengthen bilateral relations and to take steps to enhance trade and economic cooperation. Pakistan and the US would work to support more business-to-business contacts and interaction between the governmental organizations.
Officers of various ministries and public organizations such as Ministry of Foreign Affairs, Ministry of OPHRD, Ministry of Climate Change, Power Division, Ministry of National Food Security & Research, Ministry of Information Technology, DRAP, BoI, AEDB and the SBP also participated in the meeting.
The story was originally published in Business Recorder on March 9, 2022.
