WASHINGTON: US State Department said that robust trade relationship between US and Pakistan is more important than ever to bolster latter's economic stability as it recovers from last year's devastating floods. US State Department Spokesperson Ned Price made these remarks in response to question at weekly press briefing.

He said that Pakistan-US Trade and Investment Framework Agreement (TIFA) Council "exemplifies our commitment to deepening our economic and commercial ties with Pakistan". "We believe that robust trade relationship between United States and Pakistan is more important than ever to bolster Pakistan's economic stability as it recovers from devastating floods, while at same time also providing an opportunity to Americans and to American businesses in this country, exposing them to new markets-Pakistani markets in this case," added Price.

Spokesperson furthered that US' trade relationship with Pakistan has helped both Pakistani industries and consumers, adding "There is great potential to expand bilateral trade with Pakistan further, particularly in energy, agricultural equipment and products, franchising, retail trade, information and communications technology products and services". Price stated that US has been leading investor in Pakistan for past two decades and that investments have increased by some 50 percent.

"US investment in Pakistan is highest it's been in over decade and US corporations have announced more than $ 1.5 billion in investment plans in Pakistan since 2019. US companies and their local affiliates, moreover are among Pakistan's largest employers with roughly 80 US companies directly employing more than 120,000 Pakistanis," he added

Published in The Daily National Courier, February, 25 2023

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