USTR Froman Vows to Increase U.S.-Pakistani Trade
The U.S.-Pakistan Trade and Investment Framework Agreement, signed in 2003, continues to strengthen bilateral trade and investment, U.S. Trade Representative (USTR) Michael Froman said on Oct. 21 after meeting with Pakistani Prime Minister Nawaz Sharif in Washington, D.C. The officials…
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pledged to ramp up that shared relationship, the USTR said in a statement (here). Bilateral trade was valued at $5.2 billion in 2012, said USTR. U.S. exports have increased more than 300 percent since 2000, according to USTR statistics (here), noting that machinery, yarn and fabric, cotton and aircraft constitute the largest export markets. U.S. imports from Pakistan have also grown since 2000, largely in the areas of miscellaneous textile products, knit apparel, woven apparel, cotton, yarn and fabric, and leather.