Role of business community vital to boost Pak-US trade ties: Naveed Qamar

• Commerce minister meets business leaders in US.
• Pakistan eager to boost trade ties with US, Naveed Qamar says.
• Asks private sector to develop innovative ways to increase market share.

WASHINGTON: Minister for Commerce Syed Naveed Qamar said that the private sector and business community had a pivotal role to play in achieving the goal of bolstering trade relations between Pakistan and the United States.

The federal minister, who is in Washington to lead talks on US-Pakistan Trade and Investment Framework Agreement (TIFA), met with the leadership of the American Apparel and Footwear Association and representatives of Pakistan's leading businesses here at the Embassy of Pakistan.

The delegation included Stephen Lamar, President and CEO American Apparel and Footwear Association; Nate Harmen, Senior Vice President (Policy); Beth Hughes, Vice President (Trade & Customs Policy); Hun Quach, Director of Policy and Advocacy, Levi Strauss & Co. and Greg Snipes, CFO AND COO, Royce Too LLC. 

Other participants included Shelley Rider (Interloop), Steve Pianowski (Nishat Chunian), Irfan Hassan (Al-Karam), Ahmed Fraz (Gul Ahmed), Mubasher Butt (Prgmea), Muneeb Tariq (PHMA) and Kamran Arshad (APTMA).

The meeting discussed in detail matters relating to bilateral trade in cotton and textiles with a special focus on strengthening Pakistan-US trade relations, the institutionalisation of mutual linkages, standardisation, traceability and visibility of products and facilitation of the business community.

Addressing participants, the commerce minister said that Pakistan was keen to strengthen its economic ties with the United States. He said that the private sector and the business community had a key role in realising the vision of enhanced trade ties between the two countries.

The minister said that the government was committed not only to providing every possible facilitation to the business community but also to putting in place policies that could fulfil the requirements of the business community and the global market.

Naveed Qamar said that the private sector should come up with innovative ideas and solutions to overcome existing challenges and secure greater market penetration. 

He said that diversification of products while ensuring quality, affordability and competitiveness would help Pakistani products gain more market share.

The meeting was informed that the government was setting up the National Compliance Centre to address issues of compliance of Pakistani products to international standards. The centre would be operational by 30 June 2023.

Also, the minister encouraged US entrepreneurs to take part in the TEXPO exhibition this May.