Islamabad:
Pakistan proposed a bilateral commercial agreement of the zero rate with the United States, aimed at expanding commercial relations in multiple sectors, since the government welcomed the statement of President Donald Trump on improving trade with Pakistan, Las Fuentes said Thursday.
The sources told The Express PAkGazette that the Pakistan government had proposed a bilateral agreement based on mutual interests, offering zero tariffs in selected tariff lines. They added that Pakistan wanted to expand bilateral trade with the United States in multiple sectors.
Separately, the Minister of Commerce, Jam Kamal Khan, welcomed a recent statement by President Trump about the improvement of trade with Pakistan, saying that he marked not only a new chapter in the ties of Pak-United States, but also showed the force of Pakistan’s economic and diplomatic position.
In an exclusive conversation with the Express PAkGazette, the minister said that despite Pak-India’s tension, the United States’s desire to increase commercial relations with Pakistan was a reflection of the fact that the international community was considering Pakistan as an economic partner.
“This is a positive sign for us that the United States is looking at Pakistan as an important commercial partner,” the minister told Express PAkGazette. “After Pakistan-India’s tension, Pakistan’s position has been strengthened. Now the United States is taking Pakistan and India at the same level.”
On Saturday, during the peak of Operation Bunyanum Marsoos del Army, Pakistan’s response with Indian aggression on May 7, the president of the United States announced that both Pakistan and India had accepted a high fire.
Trump, who is currently in the Middle East, said Thursday that hostilities between Pakistan and India were established, after urging the two countries to focus on trade instead of war. Previously, he said that trade with both nations would increase.
Last month, Trump had announced an increase in American tariffs in dozens of countries, including Pakistan. Jam Kamal said Washington was currently considering tariffs as an obstacle in trade with Pakistan, which was a positive sign.
He said that Prime Minister Shehbaz Sharif had already established a high -level committee on the issue of rates, led by the Minister of Finance, Muhammad Aurengzeb. “This committee is working on several options during the last and a half months to develop a strategy to improve commercial relations with the United States.”
The minister said that the committee was currently analyzing the factors, on the basis that the commercial commitment to the United States could be extended. “Pakistan wants to make this opportunity to the fullest, and the relevant institutions are fully prepared in this regard,” he added.
(With contributions from Usama IQbal)
