April 16, 2002	Tuesday	Safar 2, 1423

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WASHINGTON, April 15: The maiden meeting of Pakistan-US Joint Economic Forum, set up during Gen Musharraf’s official visit to Washington in February, is scheduled to be held here on April 19, it was learnt on Monday.

The establishment of the forum aims at institutionalizing discussions on economic cooperation between the United States and Pakistan.

Federal Finance Minister Shaukat Aziz, due to reach Washington on Thursday, will represent the country at the meeting, whereas Treasury Secretary Paul O’Neil will head the US side.

Mr Aziz will also be participating in this-week’s annual spring meetings of the International Monetary Fund and World Bank.

Efforts to attract more American financial help and investment have been stepped up since sanctions against Pakistan were lifted in the post-Sept 11 scenario.

The US has so far pledged about $600 million in aid to Pakistan and promised a relief in bilateral debt that may be of worth about $1 billion, expected to become effective in the fiscal 2003. Some requests for supplementary grants have also been made.

The inaugural meeting of the forum is more likely to discuss policy coordination in both the economic and commercial fields. Pakistan has made known its disappointment at the small quantum of increased market access provided by the US for Pakistani apparel exports.

The increase is pegged at approximately $142 million, far less than Pakistan had expected after its backing for the US military activities in Afghanistan. This issue may be brought up in the forum meeting, but there is a strong textiles lobby at work in the US that does not want any further relaxations in quotas or tariffs.

During Gen Musharraf’s visit, a decision was also made to re-establish the US-Pakistan defence consultative group and to set up a joint working group on law enforcement.