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| February 10, 2002 | Sunday | Ziqa’ad 26, 1422 |
Musharraf to meet US industrialists
ISLAMABAD, Feb 9: President Pervez Musharraf may meet American textile tycoons during his forthcoming visit to the United States this month.
Senior officials told NNI that the Ministry of Commerce and Board of Investment were jointly arranging the meeting.
Mr Musharraf would deliberate on bilateral textile trade between the two countries and also apprise the textile makers and importers of potential of trade with Pakistan.
The meeting is being seen an important event as Islamabad and Washington are currently negotiating increase in textile quota and cut in duty tariff.
The officials said this week Commerce Minister Abdul Razak Dawood would discuss the bilateral trade, especially enhancement in textile quota reduction in duty tarrif, with the United States officials.
US deputy secretary of economic affairs is to meet Finance Minister Shaukat Aziz and other senior government officials for cooperation in trade and economic in future.
The sources hoped that both the sides would develop understanding about textile quota increase and reduction in customs duty before the visit of the president to the United States.
The US promised Pakistan to enhance textile quota and reduce duty on the import of textile products from here.
Both the countries have already held a number of talks to develop understanding in this regard.
The European Union has suspended duty on the import of textile products from Pakistan and enhanced textile quota by 15 percent from January.
The US is the leading trade partner of Pakistan which exports about $2 billion textile items to the US every year.—NNI
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