Islamabad: Pakistan and the United States of America (USA) have decided to launch a five-year project ‘Investment Promotion Activity (IPA)’ for bilateral trade enhancement, news sources reported on November 17.
The project will be launched under the United States Agency for International Development (USAID). It will focus on reducing barriers to investment and trade by improving Pakistan’s investment promotion capabilities. This initiative will strengthen Pakistan’s business environment, build the capacity of Pakistani institutions focused on investment promotion, attract foreign direct investment, and increase US-Pakistan bilateral trade and investment.
The IPA initiative was launched by the US Ambassador to Pakistan Donald Blome and Pakistan’s Minister of State for Finance and Revenue Dr Aisha Ghaus Pasha in a ceremony held in Islamabad. Speaking on the occasion, Donald Blome said that the US is the largest destination for Pakistani goods and has fetched USD 5 billion last year in exports. He said that the IPA will increase this trade volume, further increasing business-to-business ties between the two countries.
It is important to note that USAID is one of the largest funding agencies in Pakistan, supporting civil infrastructure and capacity-building projects in the country. The US is also the largest trading partner of Pakistan and has consistently provided financial support over the last many decades
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
