PM Visit: Trade and Economic Cooperation
The three day visit of Prime Minister Imran Khan seems to have struck a chord and both President Donald Trump and PM Imran Khan have found some common grounds to move forward on. This week’s summit talks turned out to be a positive initiative from both the sides as they kept aside their bitterness and grievances. This meeting broke the ice and both the countries are now back on the track to have bilateral relations. Pakistan’s President visit to the United States was not only a good step to the outer world but was a good indicator for Pakistan’s economy too.
The talks revolved around four different subjects including peace process in Afghanistan, Kashmir issue between two contending rivals India and Pakistan, regional security and fostering trade and economic relations. Trump on Monday also hinted at the possibility of restoring about $13 billion aid to Pakistan that was suspended in 2018. Outcomes of these talks indicate that the bilateral ties between both the countries will grow in the near future. However, the US is dangling the possibility of stronger trade and economic relations with Pakistan if it helps with the peace talks in Afghanistan and do more to crack down on terrorism within its borders.
Investment and economic cooperation were of more prime concern than the renewal of the US aid to Pakistan. Because the US has been Pakistan’s important development, investment and trade partner and Pakistan’s second largest export market after European Union with total trade of $6.627 billion during FY 2018-19 and over $1.5 billion worth of investment. Moreover, The American President also showed interest in raising the US investment and expanding trade relations with Pakistan.
Acknowledging that there have been ups and downs in Pakistan – U.S relations Pakistan is looking forward to discover ways and means to deepen its economic relations with Washington through a constructive and positive approach. This cooperation will be beneficial for both the countries. Pakistan is expecting US engagement in the areas such as economy and finance, energy, science and technology as well as agriculture. These areas have the potential to build up long-term economic growth, stability and human development.
Indeed, this three day visit to Washington has helped to soften Pakistan’s relations with the US. Now is the time when the US investors must convince their potential investors to invest in Pakistan and should transfer the latest technology to Pakistan. Moreover, Pakistan should focus more on its private sector by providing all kinds of support and skills to boost its exports.