Pakistan Seeks IT and Agricultural Reforms in US-Pakistani Trade Talks

Pakistan is hoping for agricultural and information technology breakthroughs during the first ministerial level meeting of a US-Pakistani trade and investment body in seven years, according to Pakistan's commerce minister on Tuesday.

Under the terms of the US-Pakistan Trade and Investment Framework Agreement, Commerce Minister Syed Naveed Qamar will meet with US Trade Representative Katherine Tai and other senior US officials on Thursday (TIFA).

According to Qamar, the meeting will strengthen ties between the two countries, which have been strained in recent years due to political tensions, and could help boost bilateral trade in goods and services, which the Pakistani embassy says is now worth about $12 billion.

"It is important that we start talking," he said. "These were supposed to be annual meetings, but for one reason or another, they have been on the backburner for so long. Now that we are starting, there are many areas where we expect some breakthroughs, and that is on both sides."

Tai's office, which listed the meeting on its public calendar, did not respond immediately.

Relations between Islamabad and Washington, once close allies, have only recently begun to warm after several years of icy relations, owing primarily to concerns about Pakistan's alleged support for the Taliban in Afghanistan. Pakistan denies any such support.

Qamar stated that Pakistan is looking to increase its mango exports to the United States as well as ensure smooth and increased trade in information technology and computer programming services. The United States was hoping to increase beef and soybean exports.

"When we talk about trade, we're talking about the entire spectrum, but we're focusing on these things because that's where things would begin to happen right away," he explained.

After a long lull in which China became the dominant investor, Pakistan hoped to attract more US investment, with a particular focus on IT and pharmaceuticals, he said.

"We do not want one country to have an open field. We want this to be an open and competitive environment "He stated.

Pakistan was well-positioned to assist in diversifying US supply chains that were reliant on China prior to COVID-19 but have begun to shift towards other regional suppliers. According to Qamar, it could serve as a gateway to Central Asia.