ISLAMABAD, Feb 27:Pakistan-U.S. trade talks during the visit of US Secretary of Commerce Wilbur Ross to Pakistan have failed to make a longstanding impact to enhance the business ties between the two countries, local media quoted finance ministry sources as saying on Thursday.
The talks failed to achieve any breakthrough for promoting trade ties as the Pakistani side put forward three demands before the visiting U.S. delegation, headed by Ross, including initiation of scoping study for Free Trade Agreement, expanding the GSP Plus list for providing concession on export items from the U.S. side, and moving towards Trade and Investment Framework Agreement (TIFA), but no favorable reply was given by the U.S. side, according to the report.
The U.S. delegation replied that “they would look into it” instead of making any commitment, the report said.
The finance ministry sources commented that the high-level visit proved a non-starter because the United States did not make any firm commitment on Pakistani demands, adding that Ross’ visit might be termed as a posturing attempt for balancing act in the wake of U.S. President Donald Trump’s visit to India.
The past history between the two countries shows that on several occasions, the United States agreed to hold talks on TIFA and Bilateral Investment Treaty between the two countries, but nothing concrete came out of it, according to the report.
(AGENCIES)
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