Pakistan to hold TIFA talks with United States from May 11 to May 15 in Washington to outline a joint five-year plan. Under the plan, Pakistan’s potential sectors will get linkages with the US markets. Pakistan is also looking forward to take US authorities’ help to restore back Disney Corporations order to discontinue imports of $150 million of textile products from 16 Pakistani companies because of non-compliance of the labour laws.
Pakistan will assure the US authorities and IFC, an arm of the World Bank that it will implement better works programme and will also ask IFC to improve Pakistan’s ranking in the governance index mainly because of strengthening of democracy in the country.
Pakistan team headed by Commerce Minister Khurrum Dastagir, comprising secretary of commerce, managing director of Intellectual Property Rights Organization and other senior officials will leave Pakistan on May 10 and hold vital talks with the functionaries of Department of State, commerce and labour headed by USTR (US Trade Representative).
A large delegation of Pakistan’s private sector pertaining to textile and IT will also go to the US to attend the second day of TIFA talks. A 20-member delegation of textile sector will be participating in business matchmaking event.
The US Corporation such as Disney Corporation, GAP and main entities will also attend the meeting.
Both the sides will be taking up the issues related to the FBR and taxation and also work out the measures to provide linkages to the US market of at least 10 sectors of Pakistan, at an initial stage.
The exports to the US under GSP stand at $225 million. Total exports to the US stand at $3.5 billion, of which textile exports are $3.2 billion and the remaining exports come under the GSP facility.
Pakistan is the fourth largest source of imitation and piratical goods seized by the US customs and border protection. The vast majority of these goods were either apparel or pharmaceuticals with counterfeit trademark or optical media products.
Pakistan can land into deep trouble if required action is not taken by the government and may even be exposed to strict action by Washington, including sanctions.
The US wants commercial laws in Pakistan which are so weak to be strengthened for trade.
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