Pakistan has been struggling to stabilize its economy for a while now. However, all its efforts have proven futile. It was the discussion of this economic crisis that led to Prime Minister Imran Khan’s visit to the United States. Both countries tried to come to a resolution that would allow Pakistan economy to thrive without having direct access to the United States economy without paying duty. Unfortunately, none of the suggested methods was a possible solution.
Zero Rate Duty Access To U.S. Economy Is The Only Way Forward For Pakistan
Following the meeting in the United States, Pakistan hosted a press release through Iftikhar Ali Malik, the Chairman of the Pak-US council. The press release stated that the only solution to the economic crisis in Pakistan is direct access to the United States Market at zero duty rates. Receiving aid from the United States is no longer enough to solve the economic hardship that has primarily been inflicted by war.
Malik said that both countries need to work together to strengthen the private sector between the United States and Pakistan if they are to continue to maintain their coalition against war and terrorism. He said that it is important for President Donald Trump to develop incentives that would allow the quick revival of Pakistani economy.
He said that another way to stabilize the Pakistani economy is to negotiate bilateral investment treaties that would promote investment in the country and subsequently boost the economy. He also suggested that all the bottlenecks in the cross-country investments between the United States and Pakistan should be removed and a free trade agreement should be signed. They believe that if the United States offers the same incentives to Pakistan as it does to Bangladesh, the economy will improve.