Washington: Pakistan is to intensify this week its push for a free trade agreement
(FTA) with the United States, as its economic recovery seeks to gather pace and
offset the cost of the September 11, 2001 attacks and the simmering crisis with
India.
Pakistani Finance Minister Shaukat Aziz told AFP in an interview that he
was "cautiously optimistic" that a long-term goal of sealing a trade pact was
attainable.
Aziz, in town for International Monetary Fund and World Bank annual meetings, will
also urge US officials he meets this week, including Treasury Secretary Paul
O'Neill, to grant wider access to US markets for textiles, a key Pakistani
export.
And he promised no let-up in a reform drive designed to inject the macro-economic
stability so prized by foreign investors into a previously chaotic
economy.
Aziz's sights are set firmly on a free trade pact with Washington, which would
further pry open markets in the United States, Pakistan's largest trading
partner.
"Clearly the FTA is a long drawn-out process, there are issues like environmental
issues, labour issues, its not just opening trade to both countries."
"I am cautiously optimistic," he said, though he declined to put a time-frame on
when talks might begin, or how long a deal would take to conclude.
Knitting trade pacts is notoriously time-consuming, and Aziz added that Islamabad
would watch closely as the United States strives to finally conclude FTA's with
Singapore, the first such pact with an Asian state, and Chile.