Pak-US ties
It appears there is no cause for concern about the mutually beneficial friendship going sour any time soon
File photo of a meeting between Prime Minister Nawaz Sharif and US President Barack Obama. PHOTO: REUTERS
For all the bluster and occasional ill winds that threaten to affect Pakistan’s relationship with the US, it appears that there is no cause for concern about this mutually beneficial friendship going sour any time soon. Over the past year or so, times have been turbulent but more recently the US has drawn back from its colder stance towards Pakistan. Statements issued by various departments within the US establishment reveal that the country intends to maintain and build on its bilateral military and trade relationship with Pakistan. During the past week, the 8th US-Pak Trade and Investment Framework Agreement (TIFA) meeting was held after which a joint communique was released to reiterate the statements issued last year by President Obama and PM Nawaz Sharif regarding the Pak-US bilateral trade relationship.
Meanwhile, Pakistan’s economic progress in recent years was also praised by the US Trade Representative Michael B Froman at the TIFA meeting. Additionally decisions were taken during the meeting regarding renewed outreach to Pakistani exporters, facilitation by the US to Pakistani trade and agriculture delegations amongst other cooperative measures. The US delegation pointed out the need for Pakistan to introduce reforms in its tax collection system and improvements in its trade policies to encourage investors. It must be noted here that since 2003, Pakistan’s exports to the US have increased by 50 per cent , making it our largest export destination. In the wake of the recently ended IMF programme and IMF’s assertions about the continued need for Pakistan’s government to look into multiple avenues for generating income and additional tax revenues, TIFA and other cooperative bodies like it can serve as an important platform for Pakistan to further its economic agenda. Turning around our economic outlook is as necessary as it is difficult and it would be a feather in the cap if it is able to show substantial gains without the need for resorting to further loans and bailouts.
Published in The Express Tribune, October 25th, 2016.
Meanwhile, Pakistan’s economic progress in recent years was also praised by the US Trade Representative Michael B Froman at the TIFA meeting. Additionally decisions were taken during the meeting regarding renewed outreach to Pakistani exporters, facilitation by the US to Pakistani trade and agriculture delegations amongst other cooperative measures. The US delegation pointed out the need for Pakistan to introduce reforms in its tax collection system and improvements in its trade policies to encourage investors. It must be noted here that since 2003, Pakistan’s exports to the US have increased by 50 per cent , making it our largest export destination. In the wake of the recently ended IMF programme and IMF’s assertions about the continued need for Pakistan’s government to look into multiple avenues for generating income and additional tax revenues, TIFA and other cooperative bodies like it can serve as an important platform for Pakistan to further its economic agenda. Turning around our economic outlook is as necessary as it is difficult and it would be a feather in the cap if it is able to show substantial gains without the need for resorting to further loans and bailouts.
Published in The Express Tribune, October 25th, 2016.