ISLAMABAD: Pakistan has reiterated its request for early renewal of the Generalized System of Preferences (GSP) by the US Congress for enhanced market access to textiles and apparel products.
According to an official statement, 7th Intersessional meeting of Pakistan-United States of America Trade and Investment Framework (TIFA) was held in Islamabad on April 25, 2024. Muhammad Sauleh Ahmad Faruqui, Federal Secretary Ministry of Commerce, led Pakistan’s delegation while the US delegation was led by Brenden Lynch, Assistant United States Trade Representative (USTR).
Both sides deliberated upon 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.
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The US side welcomed the constructive development regarding market access for beef from the United States to Pakistan, whereas Pakistan appreciated the support of US in facilitating market access for its mangoes and fresh dates. Both countries expressed their resolve for removal of barriers for additional agricultural products on reciprocal basis.
The sources said, US side raised issues related to violation of Intellectual Property (IP) by Pakistani companies. Such are regularly reported to Pakistan’s IPO, however, response is very slow.
Official statement noted that both countries recognized the importance of the protection and enforcement of intellectual property. The United States appreciated Pakistan’s recent efforts to further improve the enforcement regime of Intellectual Property.
Both sides further noted with satisfaction the mutual collaboration for Women Economic Empowerment to elevate women’s role in the long-term economic development of Pakistan. In this regard, the mutual cooperation between USAID and TDAP was greatly appreciated.
Pakistan reiterated its request for early renewal of the Generalized System of Preferences (GSP) by the US Congress for an enhanced market access to textiles and apparel products from Pakistan. The US side assured Pakistan that the request will be considered at appropriate level.
Both sides agreed to plan to hold the 10th TIFA Ministerial-Council meeting at the earliest to continue further dialogue on important bilateral trade issues.
The sources said US side also raised issues related to tariff of wind power projects established by the DFC. Same issues were also raised at a recent meeting in Washington D.C.
Copyright Business Recorder, 2024