Breakthrough development reported in Pakistan and US bilateral economic ties

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Breakthrough development reported in Pakistan and US bilateral economic ties

WASHINGTON: Breakthrough development reported in Pakistan and United States bilateral economic ties.

The United States plans to send 15 trade delegations to Pakistan next year to explore possibilities for expanding trade with the country, says Assistant Secretary of State Alice Wells .

The information is included in a paper link Ms Wells read at a Washington think-tank, Wilson Centre, last week, which focused heavily on the China-Pakistan Economic Corridor (CPEC), but it also included various suggestions for expanding US-Pakistan trade ties, Dawn has reported.

The paper, now posted at the US State Department’s official site, says that the US Commerce Department has “already stepped up its activity in Pakistan with 15 trade delegations planned for the next year”.

And once the new expanded Deve­lopment Finance Corporation (DFC) is up and running, “Pakistan is going to be a country of great interest”.

According to the paper, the DFC will have more than double the investment cap than the Overseas Private Investment Corporation (OPIC), increasing from $29 billion to $60bn. OPIC is a US government agency which mobilises private capital for overseas investments.

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