The US-Pakistan trade relationship is of paramount importance to ensure Pakistan’s economic stability as it recovers from devastating floods, while simultaneously providing American businesses with access to new markets.
The US Trade Representative Ambassador Tai’s hosting of the Trade and Investment Framework Agreement (TIFA) Council ministerial meeting is indicative of the US’ dedication to strengthening economic and commercial ties with Pakistan.
US trade with Pakistan has been beneficial for both Pakistani industries and consumers, with America being the largest export market with potential for further growth.
There is much scope to expand bilateral trade, particularly in energy, agricultural equipment and products, franchising, retail trade, information and communications technology products and services.
In the past year, US investment in Pakistan has increased by 50%, with US corporations announcing over $1.5 billion in investment plans since 2019.
US companies and their local affiliates are amongst Pakistan’s biggest employers, providing jobs to over 120,000 Pakistanis.
The US is also actively engaged in combatting the terror threat facing Pakistan. Both countries have a vested interest in ensuring the Taliban adhere to their commitments and terrorist groups like ISIS-K, TTP and al-Qaida are unable to disrupt regional stability.