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Pakistan : Greater access to US textiles markets sought |
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2004-8-20
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Pakistan is to seek greater access for textiles in the United States according to Humayun Akhtar Khan, the federal commerce minister. He was stating this while announcing the forthcoming talks on Trade Investment Facilitation Agreement (TIFA), which will be held in Washington by the end of next month.
Khan told this would the first meeting of the TIFA Council meeting and that under the agreement Pakistan could take up all bilateral trade issues with the United Sates Trade Representative (USTR).
Khan said that both countries would also ink Bilateral Investment Treaty (BIT) during the forthcoming talks that would help build confidence of the US companies, which intend to invest in the country, as under the BIT both countries would protect investment of each other’s companies.
Khan said Pakistan would put forth its long-standing demand for greater market access for Pakistani goods particularly textile products.
He said at present USA’s tariff for other countries’ products stands at 1.5 percent while for Pakistani products it stands at 10.5 percent, which sometimes increases to 20 percent in weighted average.
The minister said that the country would seek relief in tariff structure for its products and added Southern US states, where textile industry is concentrated, are opposed to give market access for textile products to any country. |
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