ISLAMABAD, Aug 3: The United States has linked investment with effective implementation of the Intellectual Property Rights in Pakistan.
This was stated by US Ambassador to Pakistan Ms Nancy Powell in a meeting
with Commerce Secretary Tasneem Noorani here on Tuesday.
According to an official announcement, Ms Powell apprised the commerce secretary of the efforts being made by the embassy and the US government to encourage US investment in Pakistan.
She, however, pointed out that a major obstacle in the level of US investment increasing was the insufficient protection currently being afforded to the IPRs in Pakistan.
Ms Powell said present and potential US investors had welcomed the decision of Pakistan to set up a specialized organization for dealing with the IPRs issue in the form of Pakistan Intellectual Property Rights Organization (PIPRO). She, however, regretted that the organization had not become operational so far. The US envoy said Pakistan's economic and commercial interests would be best served, if the PIPRO was set up at the earliest.
The upcoming annual meeting under the Trade and Investment Framework Agreement (TIFA) also came under discussion. The commerce secretary urged the US to provide increased market access to Pakistani exports. This, in his view, ought to be a logical consequence of the existence of close cooperation between the two governments in other fields.
Therefore, the TIFA meeting should provide a good opportunity to achieve some additional market opening in the US for Pakistan's exportable products, Mr Noorani added.
