Signalling improvement in their high-stakes relationship, Pakistan and the United States held talks on expanding bilateral economic engagement, particularly in the areas of trade and investment.
Finance Minister Dr Abdul Hafeez Shaikh and Deputy Secretary of State Thomas R Nides co-chaired the US-Pakistan Economic and Finance Working Group, pledging to strengthen bilateral cooperation.
Welcoming Shaikh at the State Department, Nides said the US-Pakistan cooperation is not only about helping each other in terms of national security, but also in economic growth. “We are going to continue with the idea of trade not aid that we have been working on for the last two years – our theme for these talks is about the economic growth of the people of Pakistan,” Nides said, standing alongside the finance minister.
Admiring the longstanding bilateral trade and investment links, Shaikh said economic ties were very important to the relationship. He said that Nides played a major part in re-energising the partnership.
“We are looking forward to deepening our economic relationship, the areas we want to focus are trade and investment, better utilisation of external assistance, we are trying to bring our businesses together to put this relationship on really strong foundations,” Shaikh said.
Both Washington and Kabul view Pakistan’s role as vital to the conclusion of the conflict and success of the Afghan reconciliation bid. The US, on the other hand, had been a major trading partner and investor in Pakistan, he added.
The US commended Pakistan’s recent efforts to expand economic cooperation with its neighbours, particularly India. Both sides discussed ways to improve trade and transit with Afghanistan and Central Asia. The US welcomed the Government of Pakistan’s plans to extend the most-favoured-nation status to India by the end of the year.
Finance minister Shaikh led a delegation of top economic managers including Minister of State Saleem Mandviwalla, Finance Secretary Wajid Rana, State Bank of Pakistan Governor Yasin Anwar and Federal Board of Revenue Chairman Ali Arshad Hakim.
The US delegation included senior representatives from the Department of State, United States Agency for International Development, the Office of the US Trade Representative, and the National Security Staff.
Published in The Express Tribune, December 2nd, 2012.
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Its good to see the strong relationships with US in sense of trade not aid. But! for pakistan government must be sensitive regarding limited trade for US and also there must strong aye on working. ALSO. i do want to say that, (its my opinion that history is going to repeat once again. i you remember UK business persons was also came here in 18th century for the same about titled agenda. then further you all know what was hepend here....!!!