Latest news with #USPBC
Business Recorder
06-05-2025
- Business
- Business Recorder
Trump tariffs: US offers Pakistan to buy more cotton
The United States has encouraged Pakistan to enhance its cotton imports, citing Pakistan's local textile industry's growing demand for high-quality cotton. The remarks were made by Natalie A. Baker, the Charge d'Affaires (CDA) of the USA, during a meeting with Federal Minister for Commerce Jam Kamal Khan in Islamabad. The meeting was also attended by the US Chamber of Commerce and the US-Pakistan Business Council (USPBC). The USPBC delegation was led by Charles Freeman, Senior Vice President of US Chamber of Commerce, read a statement released by the Ministry of Commerce. During the meeting, Baker appreciated positive developments in agricultural trade, including the resumption of soybean exports from the US to Pakistan. US tariffs will hurt Pakistani products' competitiveness, experts warn 'Enhanced cooperation in the cotton sector is also a key area for mutual growth, given Pakistan's textile industry's demand for high-quality cotton and the US's position to meet this demand,' she said. Meanwhile, Kamal said that the government is preparing a comprehensive plan to address trade deficit with the US and market access issues of its companies. 'Efforts are underway to address trade deficit and market access issues through a comprehensive strategy involving relevant stakeholders,' said Jam, adding that the recent 90-day pause by US President Donald Trump in reciprocal tariffs is seen as 'a significant opportunity for constructive engagement and building a sustainable, mutually beneficial roadmap'. The commerce minister said that Pakistan values the United States as its largest export destination and deeply appreciates the strategic trade relationship. Jam assured that Pakistan is committed to creating a conducive trade environment for US businesses and investors, upholding transparent, rules-based, and fair-trade practices, read the statement. The federal minister highlighted that Pakistan's economy is showing positive trends, with major macroeconomic indicators stabilising. The government has undertaken focused reforms to improve the ease of doing business, making it more predictable and transparent, he said. These reforms include reductions in policy rate and inflation, lower electricity prices for businesses, and a commitment to policy consistency and regulatory transparency.
Business Recorder
06-05-2025
- Business
- Business Recorder
US urges Pakistan to boost cotton exports to meet industry needs
The United States has encouraged Pakistan to enhance its cotton exports, citing the local textile industry's growing demand for high-quality cotton. The remarks were made by Natalie A. Baker, the Charge d'Affaires (CDA) of the USA, during a meeting with Federal Minister for Commerce Jam Kamal Khan in Islamabad. The meeting was also attended by the US Chamber of Commerce and the US-Pakistan Business Council (USPBC). The USPBC delegation was led by Charles Freeman, Senior Vice President of US Chamber of Commerce, read a statement released by the Ministry of Commerce. During the meeting, Baker appreciated positive developments in agricultural trade, including the resumption of soybean exports from the US to Pakistan. US tariffs will hurt Pakistani products' competitiveness, experts warn 'Enhanced cooperation in the cotton sector is also a key area for mutual growth, given Pakistan's textile industry's demand for high-quality cotton and the US's position to meet this demand,' she said. Meanwhile, Kamal said that the government is preparing a comprehensive plan to address trade deficit with the US and market access issues of its companies. 'Efforts are underway to address trade deficit and market access issues through a comprehensive strategy involving relevant stakeholders,' said Jam, adding that the recent 90-day pause by US President Donald Trump in reciprocal tariffs is seen as 'a significant opportunity for constructive engagement and building a sustainable, mutually beneficial roadmap'. The commerce minister said that Pakistan values the United States as its largest export destination and deeply appreciates this strategic trade relationship. Jam assured that Pakistan is committed to creating a conducive trade environment for US businesses and investors, upholding transparent, rules-based, and fair-trade practices, read the statement. The federal minister highlighted that Pakistan's economy is showing positive trends, with major macroeconomic indicators stabilising. The government has undertaken focused reforms to improve the ease of doing business, making it more predictable and transparent, he said. These reforms include reductions in policy rate and inflation, lower electricity prices for businesses, and a commitment to policy consistency and regulatory transparency.
Business Recorder
05-05-2025
- Business
- Business Recorder
Opportunities explored: Aurangzeb meets high-level USPBC team
ISLAMABAD: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a meeting Monday with a high-level delegation of the US Pakistan Business Council (USPBC) led by Esperanza Jelalian, Vice President of the US Pakistan Business Council, said a press release issued on Monday. The delegation comprised leading American investors and representatives from prominent US businesses operating in or exploring opportunities in Pakistan. The finance minister welcomed the continued interest and investment by US companies in Pakistan and appreciated the participation of US officials and business representatives in the recently held Pakistan Minerals Forum. He underscored the vast potential for expanding Pakistan-US economic cooperation, particularly in key sectors such as energy, minerals, agriculture, and digital services. Aurangzeb, USPBC team discuss investment During the meeting, Senator Aurangzeb highlighted the government's commitment to creating a conducive and enabling business environment for both domestic and foreign investors. He informed the delegation that the government was carefully reviewing policy suggestions, including those related to the taxation regime, submitted by industry bodies and business forums—including USPBC—as part of the consultative process ahead of the forthcoming federal budget. He reiterated the government's intention to support sustainable and profitable business growth for US and other international investors in Pakistan. The finance minister also recalled his recent visit to the United States to attend the World Bank/IMF Spring Meetings. He briefed the delegation on his extensive engagements during the visit, which included over 70 interactions over a six-day period with a wide range of stakeholders including government counterparts, Development Finance Institutions (DFIs), investment banks, multilateral and bilateral partners, rating agencies, think tanks, and leading international media outlets. Copyright Business Recorder, 2025
