Addressing a press briefing in Washington on Thursday, US State Department Spokesperson Ned Price said that US Trade Representative Ambassador Tai's hosting of the Trade and Investment Framework Agreement (TIFA) Council ministerial meeting was an example of the US commitment to strengthening economic and commercial ties with Pakistan.
As Pakistan recovers from devastating floods, "we believe that a robust trade relationship between the United States and Pakistan is more important than ever to bolster Pakistan's economic stability, while at the same time providing an opportunity to Americans and to American businesses in this country, exposing them to new markets—in this case, Pakistani markets," he said.
He said, "We have long been Pakistan's largest export market, with potential for much further expansion." The US economic partnership with Pakistan has benefited both Pakistani companies and consumers, he noted.
The State Department spokesman stated that his nation thought there was great potential to increase bilateral trade with Pakistan, particularly in the areas of energy, agricultural machinery and products, franchising, retail trade, and products and services related to information and communications technology.
America has been a major investor in Pakistan for the past 20 years, and he also mentioned that in the most recent year, the country’s investments climbed by almost 50 percent.
He said, "American companies and their local affiliates, furthermore, are among Pakistan's greatest employers, with approximately 80 US companies directly employing more than 120,000 Pakistanis. US corporations have declared more than $1.5 billion in investment plans in Pakistan since 2019."
The US State Department spokesperson also talked about the terror challenge Pakistan is now facing. He said that the US involvement was motivated by the reality that terrorism is a threat that has already claimed far too many innocent lives in Pakistan, Afghanistan, and other countries.