ISLAMABAD: The United States’ bilateral trade with Pakistan exceeded US$6.5 billion in 2023, Federal Minister for Planning and Development Ahsan Iqbal told an event organised by USAID on Monday.
He said that Pakistan is a big exporter of textile, surgical instruments and IT services to the United States, adding there is a huge potential for the expansion of the existing trade partnership.
The minister highlighted the historical foundation of US-Pakistan relations, which began with defense cooperation and has evolved into a robust development partnership.
The minister called for enhanced market access and joint ventures in key sectors such as IT, agriculture, and manufacturing. He stressed that Pakistan, with its strategic location at the crossroads of South Asia, Central Asia, and the Middle East, is a natural partner for the United States in promoting regional connectivity and economic integration.
He expressed optimism about revitalising the US-Pakistan partnership under the new US administration, stating that mutual respect and constructive engagement are keys to addressing shared challenges and unlocking new opportunities for growth.
While discussing future cooperation, Iqbal emphasised the importance of addressing global challenges such as climate change, energy sustainability, and food security. He called for collaborative research in renewable energy, sustainable agriculture, and modern infrastructure to build a more resilient future.
Iqbal reaffirmed Pakistan’s commitment to building a future of peace, prosperity, and progress in collaboration with the United States.
Ambassador of the United States Donald Blome said that the tremendous partnership with Pakistan has continued for 70 years. He said that United States was among the first few countries that recognised Pakistan.
Blome highlighted that USA helped Pakistan in the 1960s and 1970s by building Tarbela and Mangla dams. He said the US believed in investing in humans not physical structures. He said the US was looking forward to investing in Pakistan in the near future.
USAID Mission Director Veeraya (Kate) Somvongsir, while speaking on the occasion, highlighted the achievements of the US-Pakistan relationship spanning seven decades and reaffirmed their commitment to strengthening bilateral cooperation.
Copyright Business Recorder, 2024
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