ISLAMABAD: The bilateral trade between Pakistan and the United States has increased by over 38.3 percent and touched $10.5 billion during the last fiscal year, Parliamentary Secretary for Ministry of Commerce Syed Javed Ali Shah told National Assembly.
Parliamentary Secretary told the house during question hour was confident that country’s exports to the US would continue to grow in the coming years. Pakistan’s exports to the U.S. were recorded at $6.8 billion in FY 2021-2022 as compared to $5.1 billion in FY 2020-2021 recording an increase of 32%.
He said the Pak-US trade in FY 2021-2022 was recorded at $10.5 billion as compared to $7.8 billion in FY 2020-2021 registering an increase of 38.3%. The US is the largest single-country export destination of Pakistan.
Ministry is actively engaged with Animal and Plant Health Inspection Service (APHIS) of United States Department of Agriculture (USDA) to get further market access for Pakistani agricultural goods such as mangoes and dates.
Regular engagement is maintained with the private and public sector of the U.S. through our Trade and Investment Officers (TIOs). Additionally, various promotional activities are held through Trade Development Authority of Pakistan (TDAP) and our TIOs in the U.S. 6 226.
The Parliamentary Secretary said Pakistan is negotiating a Free Trade Agreement with the Gulf Council Cooperation (GCC) to get market access for goods and services. Country is also engaged with Saudi Arabia under the ambit of the Supreme Coordination Council to enhance exports to the Kingdom.
Replying to another question, he said US 43,047.24 million foreign loan was taken by the Government from August, 2018 to December, 2021.