US launches initiative to enhance bilateral trade with Pakistan.

ISLAMABAD -- US Ambassador Donald Blome and Minister of State for Finance and Revenue Dr Ayesha Ghaus Pasha on Wednesday formally launched a United States government-led initiative to enhance US-Pakistan bilateral trade. The United States has long been Pakistan's largest export market, with potential for further growth, said a news release from the embassy of the US in Pakistan. According to the US Census Bureau, the United States imported nearly $5.3 billion in Pakistani goods in 2021, and US investments in Pakistan went up by 50 percent in the past year. The Investment Promotion Activity (IPA), implemented by the United States Agency for International Development (USAID), is a five-year project that will help 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. Overall, the project aimed to reduce barriers to investment and trade by improving Pakistan's investment promotion capabilities. The project will also provide grants to firms registered in Pakistan that are interested in enhancing trade with the United States and have the potential to attract foreign direct investments. These grants will...