Abdul Razzak Dawood briefs US Commerce Secretary on ease of doing business in Pakistan

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ISLAMABAD: United States Secretary of Commerce Wilbur Ross, who arrived in Islamabad early Wednesday, is holding a bilateral meeting with Adviser for Commerce, Textile, Industry & Production and Investment Abdul Razzak Dawood.

Dawood will appraise the US official on steps taken by the Pakistan Tehreek-e-Insaf (PTI) government to improve ease of doing business in the country.

The duo is set to engage in a detailed discussion on trade between the two countries. Dawood is also expected to broach the subject of accessibility of Paksitani commodities in US markets and put forth a recommendation to convene a session of the Trade and Investment Framework Agreement (TIFA) council.

Ross is also scheduled to meet Prime Minister Imran Khan during the visit.

US-Pak trade

According to the Office of the US Trade Representative, Pakistan was America’s 56th largest goods trading partner with $6.6 billion in total (two way) goods trade during 2018. Goods exports totalled $2.8 billion and imports totalled $3.7 billion while the goods trade deficit with Pakistan was $860 million in 2018.

“The top US export categories (2-digit HS) in 2018 were: miscellaneous grain, seeds, fruit (soybeans) ($624 million), cotton ($612 million), iron and steel ($225 million), machinery ($211 million), and optical and medical instruments ($117 million).

“The US total exports of agricultural products to Pakistan totalled $1.4 billion in 2018. Leading domestic export categories to include: soybeans ($619 million), cotton ($612 million), tree nuts ($49 million), dairy products ($38 million), and planting seeds ($37 million).”

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