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June 24, 2003 Tuesday Rabi-us-Sani 23,1424

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Shaukat to seek free trade accord with US



By Our Correspondent


NEW YORK, June 23: Finance Minister Shaukat Aziz said on Sunday that he would seek a Free Trade Agreement (FTA) between the United States and Pakistan when he meets top Bush administration officials.

Mr Aziz will be meeting US Treasury Secretary John Snow, and US Assistant Secretary of State Christina Rocca ahead of President Musharraf’s Camp David meeting with President Bush.

The finance minister told Dawn that he would sign the Trade, Investment and Finance Agreement (TIFA), and discuss bilateral economic ties with the US officials.

Saying that signing a free trade agreement with the US would be a major boost for Pakistan economy, Mr Aziz noted that the process could take as many as two years before it comes to fruition, but he added: “We will explore many more avenues of economic cooperation before that.”

He said that he will be meeting with major US business executives at a dinner to be hosted for him by the United States Chamber of Commerce, and also meet with the officials of Overseas Private Investment Corporation (OPIC) and officials of Export-Import Bank (EXIM).

Mr Aziz said that major emphasis of his meetings with the US officials would be on economic, political and defence cooperation with the United States.

In Los Angeles, the finance minister is expected to meet top CEOs of major American corporations on the West Coast, including executives of Rand Corporation, a major defence contractor which works for Pentagon.

President Musharraf in his meeting with US President Bush is expected to ask him to write off the rest of the $1.8bn loan owed to the US besides seeking more textile quotas for Pakistani exports.






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