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US Companies Keen to Enhance Investment in Pakistan: Commerce Secretary

ISLAMABAD – United States Secretary of Commerce Wilbur Ross during his visit to Pakistan on Wednesday said US companies are willing to enhance investment in Pakistan and that the US supported trade and development in the country, Geo News reported.
Ross During discussed trade ties between US and Pakistan with Pakistani Commerce Advisor Abdul Razak Dawood.
He added that we fully support trade and development in Pakistan.
Razzak said Pakistan will provide all the facilities to the exporters.
“We are taking steps to make this a favorable trade environment. There are many business opportunities for US businessmen in the country.”
He added the Pakistani products including textile 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.”
Razzak, while talking to Geo news said that 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 to the Pakistani Prime Minister Abdul Razak Dawood further said that the US had directed Pakistan to organize 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 business in Pakistan.
The US embassy in Islamabad in a tweet said that 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.”
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,” Ross tweeted.
(Sahar News Monitoring Desk)

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