Commerce Minister to co-chair PAK-US TIFA Council meeting in Washington

• Commerce Minister Naveed Qamar has left for Washington
• He will co-chair the Pakistan-US TIFA Council meeting
• The meeting is being held after eight years

ISLAMABAD: Federal Minister Commerce Syed Naveed Qamar has left for Washington DC to co-chair Pakistan-US Trade and Investment Framework Agreement (TIFA) Council meeting being held after eight years.

According to press statement issued by the commerce ministry, the purpose of Trade and Investment Framework Agreement (TIFA) is to enhance bonds of friendship and spirit of cooperation between the two countries.

It aims to promote international trade and economic interrelationship and recognize the importance of fostering an open and predictable environment for international trade and investment.

The council also aims to take into account the membership of the two countries in the World Trade Organization (WTO) without prejudice to each party’s rights and obligations under the Marrakesh Agreement.

During the meeting, US and Pakistan would affirm their desire to promote an attractive investment climate and expand trade in products and services consistent with the terms of this agreement.

Both countries would take appropriate measures to encourage and facilitate the exchange of goods and services and to secure favorable conditions for long-term development and diversification.

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