US, Pakistan to step up talks on bilateral investment pact
Afp, Washington
The United States and Pakistan agreed Tuesday to strive harder to forge a bilateral investment pact that could set the stage for negotiations to establish a free trade agreement. United States Trade Representative (USTR) Rob Portman and Pakistan Commerce Minister Humayun Akhtar Khan "committed to redoubling efforts to conclude" the bilateral investment treaty, USTR spokeswoman Neena Moorjani told AFP after the talks. She said the treaty "can play an important role in strengthening Pakistans economy which creates new opportunities for exporters and investors in both economies as well as bolster our joint efforts on terrorism." Pakistan President General Pervez Musharraf, who seized power in a bloodless coup in 1999, is a key US ally in its "war on terror" and has repeatedly spoken out against extremism in the Muslim world. Minister Khan also raised with Portman Pakistan's desire to commence free trade negotiations, Moorjani said. Both sides have been holding discussions on a plethora of trade issues under their Trade and Investment Framework Agreement (TIFA). Khan told reporters that a possible visit by President George W. Bush to Pakistan next year could provide an impetus for signing the bilateral investment treaty. "I think some VVIP movement" could prod the officials into speeding up the conclusion of the agreement, he said.
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