APP | 26 April 2024

Pakistan, US hold 7th TIFA meeting to strengthen trade and investment ties

ISLAMABAD, Apr 26 (APP): The 7th Intersessional meeting of the Pakistan-United States (US) Trade and Investment Framework (TIFA) was held here on Friday and discussed ways to strengthen trade ties between the two nations.

Federal Secretary Ministry of Commerce Muhammad Sauleh Ahmad Faruqui leading the Pakistani delegation and Assistant US Trade Representative (USTR), Brenden Lynch, heading the US delegation, said a news release.

During the meeting, both sides engaged in constructive discussions on a range of trade and investment-related matters, including agriculture, digital trade, intellectual property protection and enforcement, labor rights, good regulatory practices, and women’s economic empowerment.

The US side welcomed Pakistan’s progress on market access for US beef, while Pakistan appreciated US support for facilitating market access for its mangoes and fresh dates.
Both countries expressed their commitment to removing barriers for additional agricultural products on a reciprocal basis. The importance of protecting and enforcing intellectual property (IP) was also recognized, with the US appreciating Pakistan’s recent efforts to improve IP enforcement, it added.

Additionally, both sides acknowledged the successful collaboration on women’s economic empowerment initiatives, particularly the cooperation between The United States Agency for International Development (USAID) and he Trade Development Authority of Pakistan (TDAP).
Pakistan reiterated its request for the early renewal of the Generalized System of Preferences (GSP) by the US Congress, which would enhance market access for textiles and apparel products from Pakistan.

The US side assured Pakistan that the request would be considered at the appropriate level.
The meeting concluded with both sides agreeing to hold the 10th TIFA Ministerial-Council meeting at the earliest, in order to continue dialogue on important bilateral trade issues, it added.