US companies willing to enhance investment in Pakistan: Commerce Secretary Wilbur Ross
Statesman Report
ISLAMABAD: United States Secretary of Commerce Wilbur Ross on Wednesday said Washington was willing to enhance investment in the country and that the US supported trade and development in the country.
Ross’ comments came during a meeting with Commerce Advisor Abdul Razak Dawood as the two met in Islamabad to discuss trade ties between US and Pakistan.
“We fully support trade and development in the country. Pakistan needs to enhance bilateral ties with US,” Ross said.
Razzak, on the other hand, said they will provide all the facilities to the exporters. “We are taking steps to make this a favourable trade environment. There are many business opportunities for US businessmen in the country.”
He added that textile and other products should also be granted preferential trade agreement. “US companies can set up factories in Pakistan to export their product in other markets. These companies can experience the benefit in Pakistan.”
Separately while speaking to Geo News, Razak said the talks have yielded a new era of economic relations between the two countries. “The US secretary has asked us to take measures to increase bilateral trade.”
“We will hold a Pak-US ‘Business Opportunity Conference’,” he shared.
The commerce adviser further said the US had directed Pakistan to convene a meeting of the Trade and Investment Framework Agreement (TIFA) Council as soon as possible. “A meeting of TIFA Council will be held in Washington soon,” he added.
Earlier, Ross also met with US companies doing in business in Pakistan. According to a tweet posted by the US embassy in Islamabad, US exported $2.6 billion worth of goods to Pakistan in 2019.
“US companies made more than $1.4 billion in direct investments in Pakistan since 2016,” it added.
Before arriving in Pakistan, Ross tweeted that he was looking forward to his meeting with PM Imran in Islamabad where he will discuss ways in which the two countries can boost trade and investment between the two countries.
“As President Trump said this week, ‘Our relationship with Pakistan is a very good one.’ I look forward to meeting with Pakistan’s Prime Minister Imran Khan in Islamabad,” tweeted Ross.