ISLAMABAD: Federal Minister for Planning and Development Prof Ahsan Iqbal has outlined his plan to diversify trade with US in sectors like textiles, agriculture, and technology, and expand exports to the American markets, particularly in IT services and pharmaceuticals.

Bilateral trade with the US exceeded $12 billion in 2023, with Pakistani exports reaching $6 billion.

Ahsan Iqbal also highlighted Pakistan’s growing entrepreneurial ecosystem and the potential for start-up collaborations, venture capital investments, and innovation hubs to drive technological advancements.

The minister made these remarks as chief guest at the celebration of the 248th anniversary of American independence hosted by the American embassy in Islamabad on Tuesday night.

Plans to expand exports to America in IT services, pharmaceuticals

Speaking to a gathering of diplomats, business leaders, and academics to celebrate US Independence Day, the minister emphasised the resilience of 76 years long Pak-US partnership, said a statement issued by the ministry.

He cited examples of cooperation in the fields of education, trade, IT, disaster mitigation and social sector. He emphasised the importance of nurturing and deepening these relationships for mutual benefit.

He also spoke about critical issues related to human rights, conveying the hopes and aspirations of the Pakistani people from the US government to support and aid in ending the conflict and violence in Gaza, as well as to endorse the democratic right of self-determination for the people of India occupied Kashmir, He emphasised the significance of peaceful resolutions to these conflicts.

The event underscored the ongoing commitment of both nations to foster strong diplomatic relations and addressing global challenges in a collaborative manner.

He appreciated US support to advance education, IT infrastructure, and agriculture technology and disaster mitigation in Pakistan. He appreciated US assistance to Pakistan to recover from the effects of 2022 floods.

Referring to 1960s Green Revolution in Pakistan, he spoke that significant progress in agricultural field was made possible through the warm support from US. He also suggested that Pakistan was in need of a Green Revolution 2.0 that ensures food and climate security.

The statement said that the minister shared his personal experience of studying at the Wharton School in Pennsylvania in the 80s and praised American universities for their significant role in driving economic development through innovation and entrepreneurship. He also mentioned the US-Pakistan Knowledge Corridor initiative launched in 2013, which aimed to train 10,000 PhD scholars in top US universities over ten years.

Concluding his remarks, the minister quoted Martin Luther King Jr saying, “We may have all come on different ships, but we’re in the same boat now.” He wished prosperity, progress, and peace to the people of the United States on behalf of the people and government of Pakistan.

Published in Dawn, July 4th, 2024