Efforts on to revive US GSP status

Envoy says trade has remained consistent despite ups and downs in relations

KARACHI:

Pakistan's Ambassador to the United States Rizwan Saeed Sheikh has stated that although the relationship between Pakistan and the US has experienced many ups and downs during the last 77 years, trade has remained consistent, with the US continuing to be one of Pakistan's largest markets.

"The US is a huge market that no single country can fully cater to. Therefore, this is an area where I intend to work hard to ensure that Pakistani products and services are introduced alongside goods of other competing countries," he said at a meeting during his visit to the Karachi Chamber of Commerce and Industry (KCCI).

Sheikh said work was underway for the revival of Pakistan's GSP Plus status, which had been confirmed by a congressman, who assured that he would push Pakistan's case for GSP Plus.

This is the right time as those who were opposed to the GSP Plus status for Pakistan have not been elected in recent US elections.

To further improve existing trade, the ambassador requested KCCI to share research, detailing the US companies with which Karachi business community was already engaged as well as those they intended to collaborate with. This will help Pakistan's embassy to approach those companies to enhance trade and explore additional avenues for trade and investment cooperation.

Referring to concerns expressed by exporters about high interest rates and energy tariffs, he assured them that he would convey business community's demand to bring down interest rate to 7% and substantially lower energy tariffs to high-ups in Islamabad. This will enable Pakistani exporters to remain competitive in the US and other international markets.

Highlighting Pakistan's geo-strategic importance, he was of the opinion that Pakistan, being the fifth largest country in terms of population, simply could not be ignored by the US but it must be viewed through its own lens, rather than from the perspective of India or any other country.

"Pakistan's textile sector is fully capable of supplying state-of-the-art products, which can be compared easily with any other country, and we are also the largest importers of US cotton," he said.

The ambassador praised the quality and appeal of Pakistani products, stating that they were excellent and could easily penetrate the US market, keeping in view the huge size of the market.

He said that immediately after assuming office as Pakistan's ambassador to the US, one of his top priorities was to hold a meeting with KCCI, recognising that the chamber represented a city that was playing a pivotal role in Pakistan's economy.

"While Pakistan's trade can be facilitated through various channels, Karachi stands as the city where the majority of the country's international trade takes place," he said, adding that it was a key factor in his decision to initiate dialogue with KCCI.