- The PM Shehbaz informed the report of the steering committee.
- Business leaders to join the delegation linked to the United States.
- The Embassy in Washington maintains an active commitment.
Islamabad: Pakistan has decided to send a high-level delegation to the United States for negotiations aimed at improving bilateral trade relations and responding to concerns related to American prices newly imposed on Pakistani imports.
The decision was made on the instructions of Prime Minister Shehbaz Sharif at a revision meeting held on Wednesday in Islamabad, the group focusing on the increase in national exports and to discuss the recent tariff measures of Washington.
The delegation will include leading commercial figures and the main exporters, reflecting the government’s intention to engage the main stakeholders in the formation of a mutually beneficial route.
The PM has instructed the delegation to negotiate the newly introduced prices and develop a long -term strategy to protect and extend the commercial interests of Pakistan.
Islamabad’s decision follows Washington’s announcement last week of a 29% obligation on Pakistan goods in response to a 58% rate on American products billed by Pakistan.
Pakistani exports to the United States, in accordance with a senior manager of the Ministry of Commerce, will now face a total rate of 39%, including a basic import right of 10%and a reciprocal rate of 29%.
The United States is the largest unique export market in Pakistan, with exports worth around $ 6 billion per year, mainly textiles.
After the announcement of President Donald Trump, Prime Minister Shehbaz had formed a steering committee of 12 members to cope with the reciprocal rates.
Meanwhile, initial estimates suggest that said functions could cost Islamabad between $ 500 and $ 700 million.
The today’s meeting, chaired by Prime Minister Shehbaz, was attended by the deputy minister and the Minister of Foreign Affairs Ishaq Dar, the Federal Ministers Ahsan Iqbal, Muhammad Aurangzeb, and Ali Pervaiz Malik, as well as the adviser to the PM Syed Tauqir Shah, the special assistants Tariq Fatemi and Haroon Akhtar, the coordinator Rana Ehsan Afzal, and for the other.
During the group, the Prime Minister was informed of the conclusions of the steering committee and the working group formed to assess the impact of new prices. Various alternative strategies were presented to the forum.
The officials informed the meeting that the Pakistan Embassy in Washington is in constant contact with the US administration concerning the issue.
Prime Minister Shehbaz has reiterated that Pakistan values its commercial ties of several decades with the United States and seeks to further strengthen this strategic partnership.
He stressed that the delegation must ensure that all business leaders and exporters concerned are part of the dialogue process.
‘Desire to work with Trump’
Pakistan’s announcement sending a delegation to the United States comes a few hours after Prime Minister Shehbaz – at a meeting with an American team led by the official of the main office and assistant secretary from the South and Central Affairs Bureau in the US State Department Eric Meyer – reiterated that his government’s wish to work with President Trump.
The meeting occurred on the sidelines of Pakistan Minerals Investment Forum which was assisted by the American delegation.
During their interaction, the PM welcomed the participation of the United States in the forum and stressed that the Pakistan mineral sector presented immense opportunities, encouraging American companies to invest in this priority sector.
He stressed the importance of Pakistani relations not only in the bilateral context but also for regional peace and security as well as increased cooperation in the fields of mutual interest, in particular trade and investment and counter-terrorism.
Meanwhile, Meyer recognized the potential of the mineral sector of Pakistan and has passed the interest of American companies to invest in the mineral sector. He also expressed the American desire to work with Pakistan on questions of common interest.