Obama, Pakistan PM Ink Deal to Boost GSP Use, Other Trade Initiatives
The U.S. and Pakistan launched a joint action plan on Oct. 22 to boost trade and investment ties. The announcement of the plan coincides with Pakistani Prime Minister Muhammad Nawaz Sharif’s visit to the White House on the same day.
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The Office of the U.S. Trade Representative will boost outreach and training to help Pakistan optimize its use of the Generalized System of Preferences, said the White House in a statement (here). “USTR is prepared to assist the Government of Pakistan in identifying and petitioning for additional GSP tariff lines and to obtain eligibility for exports of goods under newly GSP-eligible travel goods tariff lines,” the White House memo said.
The U.S. is also aiming to help grow Pakistan’s ready-made garment sector through vocational support while encouraging the country to ratify the Trade Facilitation Agreement at the World Trade Organization, said the White House. U.S. officials will also aid Pakistan in joining the WTO Agreement on Government Procurement, the memo said. Meanwhile, “the Department of Commerce and [USTR] will assist Pakistan in building its capacity in sanitary, safety, and other standards required of U.S. government procurements,” it said.