During a zoom meeting Faisalabad Chamber of Commerce & Industry (FCCI), Hafiz Ihtasham Javed, President Engr and John Coronado, US Commercial Counselor for Pakistan discussed how the bilateral trade can be further strengthened after the revelation of successful export rate between the two countries.
Pakistan’s exports to the United States have registered an increase of 10.9 percent during the July-November 2020 period, shows the official US data. The data, released by the US Commerce Department, also showed that Pakistan’s exports to the United States increased from $1653.2 million in the same period in 2019 to $1832.6m in 2020.
John Coronado said the US and Pakistan have deep trading ties that could be further extended for the benefit of both countries. Other members of the US consulate were also present during this Zoom meeting.
Pakistan and the US have a flourishing trade relationship from which both countries are benefitting. What we need more from the US is business not aid. To further tighten the business ties, America should eliminate the duty fee and give free access to Pakistani exports by following the EU’s pattern.
Pakistan made the highest gain in August 2020 when its exports amounted to $344.5m against total imports of $134.9m. Thus, Pakistan gained $209m.
Overall, from January to November 2020, Pakistan’s exports to the US amounted to $3,500.7m while imports stood at $2,477.0m, registering a net gain of $1,023.7m.
