News
Sunday, October 24, 2010
US vows preferential trade programme for Pakistan
* Both countries seek to work closely with foreign donors, financial institutions to extend economic aid to Pakistan
WASHINGTON: The US administration has vowed to redouble its efforts for Congressional approval of a preferential trade programme for Pakistan under which products manufactured in designated zones will be brought duty-free to the US.
“The US is committed to redoubling its efforts to seek Congressional enactment of legislation to create reconstruction opportunity zones and for the establishment of an enterprise fund,” according to a joint US-Pakistan statement released at the conclusion of a three-day strategic dialogue.
The strategic dialogue was co-headed by US Secretary of State Hillary Clinton and Foreign Minister Shah Mehmood Qureshi. Both sides sought to work closely and collaboratively with the international donor community and financial institutions to extend economic assistance to Pakistan. Clinton and Qureshi expressed satisfaction on the progress made in the strategic dialogue process.
The ministerial dialogue was preceded by sectoral track engagement on agriculture, communications and public diplomacy, defence, energy, finance and economic cooperation, health, law enforcement and counter-terrorism, water, and women’s empowerment.
According to the joint statement, the sectoral meetings covered a wide range of subjects with a clear focus on socio-economic development and the establishment of a mutually beneficial partnership. As a culmination of their work over the past seven months, the sectoral working groups compiled action plans that reflected their shared goals and benchmarks, created a roadmap for future engagement, and discussed next steps on implementation of joint projects in every area.
The latest round of the strategic dialogue confirmed the US and Pakistan’s dedication to cultivating a strategic, comprehensive, and long-term partnership, the statement said. The US commended the steadfast resolve of the government and people of Pakistan, armed forces, and law enforcement agencies to defeat terrorists. Pakistan expressed its appreciation for the secretary’s announcement to seek Congressional authorisation for a multi-year security assistance commitment, a five-year pledge by the US. The US and Pakistan emphasised that a “democratic, progressive, and prosperous Pakistan was in the interest of the US, the region, and the world”, the statement added. The two countries “renewed their resolve to promoting peace, stability, and transparency throughout the region and to eliminate the threats posed by terrorism and extremism”. app
Courtesy www.dailytimes.com.pk