Founder Chairman Pak-US Business Council and Senior Vice President of Saarc Chamber Iftikhar Ali Malik said in a press statement that Pakistan requires immediate direct access to US markets, instead of aid.
The business community in Pakistan is quite hopeful that the ongoing visit of Prime Minister Imran Khan to the United States of America will be quite fruitful in terms of permitting direct market access on zero duty rate. It is essential for boosting the economy of Pakistan.
He said, “Joint efforts are needed to further cement the existing economic ties between the private sectors in Pakistan and the US.”
Furthermore, Malik said that the U.S. was the largest trading partner of Pakistan. The trade volume between the two was worth $6.7 billion.
The major exports of Pakistan to the United States include sports equipment, surgical goods, leather products, textile products, cotton yarn, garments, carpets, and rice.
The major import items for Pakistan from the United States are electric machinery, equipment, medical items, dry fruits, perfumes, coffee, dates and other products.
Earlier we informed our readers that the United States aid to Pakistan was cut down by $440 million. It reached $4.1 billion under the Kerry Lugar Berman Act. The aid was almost half of the total amount that the US promised 9 years ago.