Mr. Wilbur Ross, Secretary Commerce of the United States of America, along with the accompanying delegation, called on Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh here at the Finance Division.
The Adviser welcomed the Secretary Commerce and said that Pakistan and United States had maintained a durable relationship over the years and there was a need to build it further. The Adviser said that the arrival of the delegation from the commerce sector is good news for Pakistan and would have positive consequences for the country. “This is at a time when the government is looking forward to a major boost in exports after offering concessions to the export oriented sector of Pakistan.”
The Adviser said that Pakistan was trying to carve out a new progressive image in the comity of nations. We have tried to follow the FATF action plan to a significant level, opened our markets to the foreign investors by providing ease of doing business and we are trying to build our image as a tourism-friendly and investment-opportunity country in the region. The Adviser also shared the updates on the economy with the US Secretary of Commerce. He said that though the country is trying to revive the economy through stabilization reform and inviting foreign investment to the country as well as taking care of its vulnerable, the rising prices of food items, high energy prices and slow revenue generation were issues that concerned him. He said that the Government’s efforts are directed towards providing ease to the common man and it would require guidance from its global partners as well. The trade between the two countries is only around $7 billion and the country has an urgent need to increase that to help in GDP growth which requires long term planning for economic development. He said that we have made a mistake in the past of not forming our alliances on the economic front based on our developmental requirements. He felt this was the time to enable the relationship to become more long lasting on a firm footing.
The US Secretary Commerce said they can help Pakistan in the energy sector and the details of the projects where economic cooperation could be enhanced are being worked on. The Adviser said that he hopes that a healthy interaction shall continue in future as well.
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