Federal Minister for Commerce, Syed Naveed Qamar will co-chair the Pakistan-US Trade and Investment Framework Agreement (TIFA) Council meeting to be held in Washington DC after eight years.
According to a press statement issued by the commerce ministry, the purpose of TIFA is to enhance the bonds of friendship and spirit of cooperation between the two countries, promote international trade, and economic interrelationship. The agreement also recognises the importance of fostering an open and predictable environment for international trade and investment.
The agreement also considers the membership of the two countries in the World Trade Organisation (WTO), and notes that this agreement was without prejudice to each party’s rights and obligations, under the Marrakesh Agreement.
Establishing the WTO and agreements, understandings and other instruments relating thereto, US and Pakistan will affirm their desire to promote an attractive investment climate, and expand trade in products and services consistent with the terms of this agreement.
Published in The Express Tribune, February 21st, 2023.
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