Ministry of COMMERCE
Joint Statementfrom the Seventh Meeting of the U.S. – Pakistan TIFA Council
Ambassador MichaelFroman and Pakistan’sMinister of CommerceEngineerKhurram DastgirKhan,metin WashingtonDCto discuss a variety of tradeand investmentissues and tochart a path forward on improving bilateral trade and investment flows over the next five years. TheUnited States – Pakistan Trade and Investment Framework Agreement (TIFA)is the primary mechanism for both Parties to discuss trade and investment issues and focus on ways to strengthen the bilateral relationship.
The United States and Pakistan announced agreement on aJoint ActionPlan toexpandbilateral trade and investmentflowsover the next five years. Among the areas of cooperation included in the JointActionPlan are:
1) diversifying agricultural production;
2)enhancingintellectual property protection;
3) implementingthe World Trade Organization (WTO) Trade Facilitation Agreement;
4)engaging onPakistan’s accession to theWTO Government Procurement Agreement;
5)increasing trade in services;
6)outreach to U.S. State and Local Governments;
7)promotingentrepreneurship; and
8) increasing dialoguebetween our respectiveprivate sectors.
Both governments will immediately begin work onimplementing the JointActionPlan. As noted inthe JointActionPlan, the United States andPakistan establisheda bilateralworking groupto meet regularly tooversee implementation of the JointAction Plan andtomonitor progress in specific areas.
At the TIFA Council Meeting, the United States and Pakistan signed a Memorandum of Understanding (MOU) on Joint Efforts to Empower Women andto PromoteWomen’s Entrepreneurship. This is a historic MOU that will provide a mechanism for discussion on how tohelpensurethatwomen participate fully in the economy and have access to economic, as well as trade and investment,opportunities. Key elements of the MOU includeexploring ways to:
1)ensurestrong interagency and inter-ministerial support for,and coordination of, policies and programs aimed at the economic empowerment of women;
2)promoteaccess to information about laws, regulations, policies, including information on international trade rules, requirements and preference programs; and
3) address and remove the impedimentsthatwomen and women entrepreneurs generally face. TheUnited States and Pakistan intend theMOU tobe a standing item onthe agenda forall future TIFAsand intendto begin discussions immediately on an implementation plan for the MOU.
At the TIFA Council Meeting, both governments discussed market access opportunities and exchanged views on how to enhance those opportunities. On the margins of the TIFA Council Meeting, private sector representatives from the United States and Pakistan met to discuss trade and investment opportunities in the textiles and apparel sector, as well as in the information and the communications technologies sector.
The Partiesplanto host the next Business Opportunities Conference in Pakistan in2014and tohold the next TIFA Council Meeting in Pakistan in 2015.