Objective of increasing Pakistan’s exports would remain elusive if we don’t support this industry. “Minister was speaking to business owners & IT professionals from Pakistan in US.
“IT is our future. The objective of increasing Pakistan’s exports would remain elusive if we don’t support this industry “The minister was speaking to business owners and IT professionals from Pakistan in America. According to early reports, the talks were primarily about increasing Pakistani products’ and workers’ access to the US IT market.
The objective of increasing Pakistan’s exports would remain elusive if we don’t support this industry. “The minister was speaking to business owners and IT professionals from Pakistan in America.
The Commerce Minister and his team were hosted by US Trade Representative Ambassador Katherine Tai for discussions on the US-Pakistan Trade and Investment Framework Agreement (TIFA). Masud Khan, the US ambassador to Pakistan, and Secretary of Commerce Muhammad Sualeh Faruqi also attended the meeting.
The US team included Assistant United Trade Representative Chris Wilson and Chief Trade Administrator Doug McKalip of the Biden administration. With a $12 billion bilateral trade volume, the US continues to be Pakistan’s top export market despite recent political tensions.
During a virtual meeting with Pakistani-American IT professionals, the commerce minister stated that the IT sector could experience exponential growth with better infrastructure and the right policies. Pakistan also wants to increase the amount of agricultural products it exports to the US market.
The participants recommended fostering an environment that would support the development of Pakistan’s IT industry as well as the country’s trade relations with the US.
The recommendations included streamlining the taxation of IT businesses, developing the skills of IT professionals, simplifying transactions, adding IT courses to high schools and colleges, and improving inter ministerial coordination.
The Pakistani American IT professionals requested the establishment of a consulate in San Francisco to act as an IT hub for local experts and Pakistani professionals. One of the main agenda items at the TIFA talks was, according to the minister, enhancing Pak-US cooperation in the IT sector.
He hoped that the momentum brought about by high-level negotiations would lead to notable advancements in all pertinent fields, including the IT and technology sectors.
The US Special Representative for Commercial and Business Affairs, Dilawar Syed, and the minister met on Wednesday at the Pakistani Embassy to go over various possibilities for boosting bilateral trade. According to a press release from the Pakistani Embassy, “matters relating to bilateral trade, foreign direct investments, business operations of US companies, and exports to the United States were discussed during the meeting.”
After a nearly 8-year hiatus, the TIFA ministerial meeting has resumed, which was welcomed by the commerce minister. He predicted that the momentum created by the restart of these high-level negotiations would result in a breakthrough in the two nations’ ability to realise their potential for trade.