US underlines need for trade, investment treaties

Envoy says Washington is mulling over economic and trade assistance

ISLAMABAD: The United States has expressed deep interest in strengthening economic and trade ties with Pakistan and to achieve that it has emphasised the need for signing trade and investment treaties.

“The US wants more strengthened economic and trade relationship with Pakistan,” said an official of the Ministry of Commerce quoting US Ambassador David Hale who met Commerce Minister Khurram Dastgir on Thursday.



“Trade and economic relationship is part of the security partnership but it is more important than bullets,” he said.

The ambassador described the political climate in Pakistan as stable and becoming more conducive and revealed that the US was considering extending assistance to Pakistan in the areas of economy and trade.

“We are eyeing investment treaties and other related tools to proceed further in the economic and trade matters,” he said. “People should look at the brighter side of Pakistan where environment has improved for investment and business.”

The ambassador praised Pakistan for its role and efforts to deepen economic and trade ties with countries in the region.

“We are a strong supporter of regional trade integration and connectivity and Pakistan’s efforts in this regard are praiseworthy,” he remarked. Hale pointed out that they were looking forward to sector-specific trade missions working together in a creative manner in the agriculture sector where a lot of potential had remained untapped.



Speaking on the occasion, the commerce minister noted that the US had been the biggest and key trade partner of Pakistan as well as a major export destination. “There is always space to grow and increase trade and business between the two countries,” he said.

Referring to recent reports of major international institutions and the upswing in the stock market, the minister said Pakistan had achieved a quantum jump in improving the environment for doing business and it was going in the right direction.

“Pakistan is emerging out of the darkness caused by extremism and energy crisis and has achieved substantial progress which is suitable for trade,” he said.

Dastgir stressed that Pakistan had made significant achievements in dealing with insurgency, had gained political and economic stability and reconnected to the world with a fresh commitment.

Published in The Express Tribune, May 13^th, 2016.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.