ISLAMABAD, 7 May 2006 — Pakistani Prime Minister Shaukat Aziz yesterday called for the early completion of an investment treaty with the United States during a meeting with a senior US official, saying it will enhance bilateral trade.
Pakistan and the United States were expected to sign the treaty in March when President George W. Bush visited the Islamic nation, but it was delayed due to differences about certain clauses.
Frank Lavin, the US Under Secretary of Commerce for International Trade, told Aziz yesterday that his visit was to follow up on Bush’s visit and that the Bilateral Investment Treaty “will be finalized and it will be based on the mutually agreed criteria,» according to the state-run news agency, the Associated Press of Pakistan.
The news agency quoted Aziz as saying that Pakistan wants the treaty to be finalized quickly, adding that it will help enhance the volume of trade between the two countries, while also creating jobs and generating business activities in Pakistan.
Lavin also met with Pakistani Commerce Minister Humayun Akhtar in Islamabad.
Aziz said Pakistan accords high priority to bilateral trade and commerce relationship with the United States. He said Pakistan looks forward for more access to US markets for its value-added exports.
He said Pakistan remained one of the biggest exporters of cotton textile to the US. He said laws are being made to ensure intellectual property rights.
Lavin told Aziz, “Pakistan’s economy was growing steadily and performing well on all front. “
He added, “there were some challenges which, the country was facing but it has the capability, leadership and policies to keep the pace of its economic growth rate.”
Later refused to comment on proposed tripartite gas pileline project between India, Iran and Pakistan.
He said Pakistan’s exports to the US grew from $2.9 billion in 2004 to $3.3 billion in 2005.
He said there was enormous potential for US investment in Pakistan and that the country was on a path of economic development. Trade barriers are being eliminated and deregulation, privatization and liberalization were keeping the economy moving.
