Pakistan seeks special access to US textile market

In a bid to strengthen trade ties with the US, Pakistan has asked the North American nation to give it preferential access to the US textile market. Ways to give Pakistani exporters, belonging to various sectors including textiles, more access to the US market was also discussed during the 8th Trade & Investment Framework Agreement (TIFA) council meeting.

Explaining this stance, Pakistani minister for commerce Khurram Dastgir Khan said, “Several international institutions have substantiated Pakistan’s stable economy, while the security situation has also greatly improved that Pakistan is now a lot safer today than it was a few years ago.”

He also added that a durably stable Pakistan would not only bring prosperity to its people but would also allow it to play a role in creating a stable region, which is their mutual goal.

The delegation to deliberate upon trade ties between the two countries was headed by Khan, while the head of the US delegation was Ambassador Michael Froman, United States Trade Representative (USTR), according to an official statement.

Froman was of the opinion that TIFA can serve as a premier forum for advancing trade investment relationship between the two countries. This agreement can help improve the economic relationship.

He also said that Pakistan’s important structural reforms resulted in enhancing overall economic growth and lowering inflation, providing a conducive environment for further strengthening trade ties between two countries.