WASHINGTON: Senior trade officials from the United States met on Tuesday with their counterparts from Uzbekistan, Kazakhstan, Kyrgyz Republic, Tajikistan, and Turkmenistan on a range of trade issues, underscoring their desire to strengthen trade ties among countries in the region, and with the United States.
Participants in the meeting of the U.S.-Central Asia Trade and Investment Framework Agreement (TIFA) also discussed the importance of digital trade for achieving broad-based inclusive economic growth and innovation, they said in a joint statement.
The officials agreed to focus on ensuring the free flow of information across borders, transparency, competition, and non-discrimination, and to include women, small and medium enterprises and other stakeholders, in shaping new policies.
They affirmed the TIFA as a “valuable mechanism” to strengthen trade and investment ties, and agreed to meet in Central Asia for the next meeting in 2022.
They welcomed the participation of Afghanistan and Pakistan as observers in the meeting, underscoring the importance of regional connectivity to boosting growth and stability, and strengthening trade between Central Asia and South Asia.
They also appreciated Afghanistan and Pakistan’s interest in renegotiating the Afghanistan-Pakistan Transit Trade Agreement (APTTA), a bilateral trade agreement signed in 2010.
One key topic was the lapse of duty-free treatment under the U.S. Generalized System of Preferences (GSP), a trade waiver program that expired at the end of last year.
U.S. officials explained key themes of the Biden administration’s trade policy, including with respect to labor, environment and climate concerns, and the equitable distribution of the benefits of trade to underserved communities.
Digital trade was a big topic, and the participants agreed to set up a separate, additional working group on the issue.
Pakistan observes as US, Central Asian countries meet on digital trade issues
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Pakistan observes as US, Central Asian countries meet on digital trade issues
- Participants at US-Central Asia Trade and Investment Framework Agreement meeting discuss importance of digital trade, economic inclusion
- Welcome participation of Afghanistan and Pakistan as observers, appreciate their interest in renegotiating Afghanistan-Pakistan Transit Trade Agreement
Pakistan’s deputy PM to travel to Beijing today to bolster ties, enhance economic cooperation
- Ishaq Dar to co-chair strategic dialogue with Chinese Foreign Minister Wang Yi on four-day visit
- Dar to meet Chinese leaders, senior ministers and corporate executive on sidelines of conference
ISLAMABAD: Pakistan’s Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar will travel to Beijing today, Monday, to take part in a strategic dialogue with Chinese FM Wang Yi, bolster bilateral ties, and enhance economic and trade cooperation between the two countries.
Beijing has been one of Islamabad’s most reliable foreign partners in recent years, readily providing financial assistance to bail out its often-struggling neighbor. In July last year, China granted Pakistan a two-year rollover on a $2.4 billion loan, giving the debt-saddled nation much-needed breathing space as it tackled a balance-of-payments crisis.
Dar will visit China from May 13-16 where he will co-chair the fifth round of the Pakistan-China Foreign Ministers’ Strategic Dialogue with Yi, the Ministry of Foreign Affairs (MoFA) said on Saturday.
“The two sides will comprehensively review Pakistan-China bilateral relations including economic and trade cooperation; high-level exchanges and visits; upgradation of China-Pakistan Economic Corridor and future connectivity initiatives,” MoFA said.
“The two leaders will also exchange views on the unfolding regional geopolitical landscape and bilateral cooperation at the multilateral fora.”
The foreign office said Dar would meet Chinese leaders, senior ministers and corporate executives on the sidelines of the dialogue, adding that his visit was part of regular high-level exchanges between both countries.
“It reflects the importance attached by the two countries to further deepening the ‘All-Weather Strategic Cooperative Partnership’; reaffirming mutual support on issues of core interest; enhancing economic and trade cooperation including CPEC; and reinforcing joint commitment to regional peace and development,” MoFA said.
China has invested over $65 billion in energy and infrastructure projects as part of the China-Pakistan Economic Corridor (CPEC). The project is part of President Xi Jinping’s ambitious Belt and Road Initiative. CPEC is designed to provide China with a shorter and safer trading route to the Middle East and beyond through Pakistan.
Since its initiation in 2013, CPEC has seen tens of billions of dollars funneled into massive transport, energy and infrastructure projects. But the undertaking has also been hit by Pakistan struggling to keep up its financial obligations as well as attacks on Chinese targets by militants.
Dar’s visit to China takes place in the backdrop of Pakistan’s moves to seek foreign investment from its allies as it tries to navigate an economic crisis that has seen its reserves dip to low levels and its currency weaken against the dollar.
Islamabad has seen visits by diplomatic and business delegations from Saudi Arabia, Japan and Uzbekistan in recent weeks. Prime Minister Shehbaz Sharif has vowed to ensure an enabling business environment in Pakistan for foreign investors and traders.
Pakistan PM to chair high-level meeting today to discuss Azad Kashmir unrest
- One cop died in clashes between police and protesters demanding cheaper wheat flour, electricity on Saturday
- Pakistan’s president urges all stakeholders to exercise restraint, resolve all disputes through dialogue, consultation
ISLAMABAD: Prime Minister Shehbaz Sharif will chair a high-level meeting today, Monday, to discuss the precarious law-and-order situation in Pakistan-administered Kashmir, state-run Associated Press of Pakistan (APP) reported after last week’s clashes in the area left one cop dead, at least 90 injured.
Clashes erupted between police and supporters of the Jammu Kashmir Joint Awami Action Committee (JAAC) rights organization in various parts of the territory on Saturday. Violence broke out when police tried to stop a JAAC rally from reaching Azad Kashmir capital Muzaffarabad from Poonch and Kotli districts. The protesters were demanding electricity as per the hydropower generation cost in Azad Kashmir and subsidized wheat flour.
The Himalayan territory of Kashmir has been divided between India and Pakistan since their independence from Britain in 1947. Both countries rule part of the territory, but claim it in full and have fought three wars over the disputed region. The western portion of the larger Kashmir region is administered by Pakistan as a nominally self-governing entity, where the protesters have been calling for subsidy on wheat flour and electricity among other demands.
“Prime Minister Shehbaz Sharif has convened a high-level meeting on Monday, which will discuss the ongoing situation in Azad Jammu and Kashmir,” APP said in a report.
In a separate post on social media platform X, Sharif warned protesters against taking the law into their hands and damaging government buildings.
“I have spoken to PM AJK and also directed all PML-N office bearers in AJK to talk to the leaders of the action committee and I urge all parties to resort to peaceful course of action for resolution of their demands,” he wrote on Sunday.
Separately, President Asif Ali Zardari on Sunday urged all stakeholders to exercise restraint and resolve the price hike issue in Azad Kashmir through “dialogue and mutual consultation,” Pakistani state media reported, amid protests in the territory for subsidized wheat flour and cheaper electricity.
The Pakistan president said this during his meeting with a delegation of members of the Azad Jammu and Kashmir Legislative Assembly, who belonged to the Pakistan Peoples Party (PPP), in the Pakistani capital of Islamabad.
“The President said political parties, state institutions and the people of AJK should act responsibly so that hostile elements could not exploit the situation to their benefit,” the Radio Pakistan broadcaster reported.
“The President highlighted that the demands of the people of AJK should be addressed as per law. He said that he would take up the grievances of the people of AJK with Prime Minister Shehbaz Sharif to find a way out of the current situation.”
Pakistan last year narrowly avoided a default on the payment of foreign debts when the International Monetary Fund and several friendly nations came to its rescue by giving it loans.
Pakistan’s monthly inflation rate at one point reached over 40 percent, but authorities say it has come down to 17 percent ahead of talks with the IMF for a new bailout. Islamabad plans to get at least $6 billion from the lender when it reaches a deal expected in the coming months.
Pakistan defeat Ireland to level T20 series
- Ireland made a dynamic start after being put into bat as the hosts blasted 29 runs in the first three overs
- But Shaheen Shah Afridi put the brakes on Ireland’s assault, dismissing the opening pair in the fourth over
LONDON: Pakistan beat Ireland by seven wickets in the second Twenty20 international in Dublin on Sunday to set up a deciding showdown in the three-match series.
Ireland made a dynamic start after being put into bat as the hosts blasted 29 runs in the first three overs.
But Shaheen Shah Afridi put the brakes on Ireland’s assault, dismissing opening pair Paul Stirling and Andrew Balbirnie in the fourth over.
Lorcan Tucker and Harry Tector (32) put on 62 for the third wicket, with the former scoring 51 in 34 deliveries.
Curtis Campher (22) and George Dockrell (15) boosted the score before Gareth Delany’s 28 off 10 balls helped the hosts post 193 for seven.
Pakistan spluttered at the start of their chase as Saim Ayub was caught in the first over and skipper Babar Azam nicked Graham Hume behind to depart for a duck in the second.
But Ireland’s hopes of sealing a famous series win with a game to spare were dashed as Mohammad Rizwan (75 not out) and Fakhar Zaman (78) put on a stunning 140-run partnership.
Azam Khan added 30 from 10 balls to take Pakistan home with 3.1 overs unused.
Ireland had claimed their first ever T20 victory against Pakistan in the series opener on Friday, winning by five wickets with one ball to spare.
Pakistan will also face Ireland in the group stage of next month’s T20 World Cup in the United States and the West Indies.
Former Pakistan finance minister announces forming new party ending months of speculation
- Miftah Ismail, who took tough decisions for resumption of Pakistan’s stalled $6 billion IMF bailout, was forced to step down in 2022
- Former minister says they are forming a party based on ‘ideas and not personalities,’ with women and young people as part of leadership
ISLAMABAD: Former Pakistan finance minister, Miftah Ismail, on Sunday announced forming a new political party that would be “internally democratic” and would speak for the “aspirations of all Pakistanis.”
Ismail, who took tough decisions for the resumption of the country’s stalled $6 billion International Monetary Fund (IMF) bailout, was forced to step down in September 2022 by the former coalition government of Prime Minister Shehbaz Sharif and with Ishaq Dar.
The former minister, along with other dissident politicians belonging to the then ruling coalition, kicked off a nationwide debate called “Reimagining Pakistan” in 2023, taking up a wide range of issues for discussion while expressing regret they were not adequately addressed earlier.
For the last several months, speculation had been rife that the former finance minister was planning to launch a new political group, which could be joined by former prime minister Shahid Khaqan Abbasi and ex-senator Mustafa Nawaz Khokar.
On Sunday, Ismail said they were forming a party based on “ideas and not personalities,” with women and young people as part of the leadership team.
“We are forming a different kind of party... a party that has professionals of integrity, competence and intellectual honesty, a party that belongs not to a province or a city but to the whole nation, a party that will constitutionally mandate term limits for its leaders, be internally democratic, and would never consider any individual or family to be indispensable,” he said on X.
“Most importantly, a party that speaks for the hopes and aspirations of all Pakistanis.”
In an op-ed written for the English-language daily The News on Saturday, Ismail said for the first time ever, they were not just apprehensive but frightened about the future of Pakistan.
“Daily survival is getting harder and harder for our people, our already ineffective governance is getting even worse, and our nation is drifting backward as the rest of the world is marching forward,” he wrote.
“We are fast reaching the point of no return – and it is imperative we take a hard look at our ineffective governance that has failed our people. We need to radically restructure our governance so that we can finally give hope and opportunity to all our people.”
Pakistan has for months been faced with low foreign exchange reserves, currency devaluation and high inflation. The South Asian country last month completed a short-term $3 billion International Monetary Fund (IMF) program, which helped stave off a sovereign default, but the incumbent government of PM Shehbaz Sharif has stressed the need for a fresh, longer-term program.
Pakistan and the IMF are expected to begin formal talks next week, with Islamabad saying it expects a staff-level agreement by July. Though both Pakistani and IMF officials have refrained from commenting on the size of the program, the South Asian nation is expected to seek around $7 billion bailout from the global lender.
PM announces Rs1 mln for each player as Pakistan hockey team returns home to hero’s welcome
- Pakistan on Saturday won the silver medal after reaching the Azlan Shah Hockey Cup final in Malaysia
- The feat has rekindled hopes of Pakistan hockey renaissance after decades of dormancy in national game
ISLAMABAD: Prime Minister Shehbaz Sharif has announced Rs1 million ($3,599) for each member of the Pakistan hockey team that clinched the silver medal in the Azlan Shah Hockey Cup in Malaysia.
The announcement came shortly after the Pakistan team arrived in the eastern city of Lahore to a hero’s welcome on Sunday, where they were welcomed by Rana Mashhood, chairman of chairman of PM’s Youth Program, and hundreds of jubilant Pakistanis.
Japan defeated Pakistan in a penalty shootout after a tense 2-2 draw in Ipoh on Saturday in a dramatic conclusion to the 2024 Azlan Shah Hockey Cup final. Pakistan reached the tournament’s final for the first time since 2011 following a series of stellar performances.
In a post on Facebook, the Pakistan Hockey Federation (PHF) thanked PM Sharif for his generous support and encouragement toward the national heroes.
“Thanks to the PM’s announcement of 18 million PKR (1 million cash for each player), for our Silver medalist Pakistan Hockey Team at the Sultan Azlan Shah Cup feels honored and appreciated for their hard work and dedication,” the PHF said.
“This gesture not only acknowledges their exceptional performance but also serves as a motivating force for them to continue striving for excellence on the international stage!“
Six teams participated in the event, including the tournament Malaysia, Pakistan, South Korea, Japan, New Zealand and Canada.
Pakistan have won the Azlan Shah Cup title three times in the past and stood the second runners-up in the last edition that was also held in Malaysia two years ago.
Pakistan’s feat at the Azlan Shah Cup has rekindled hopes of a hockey renaissance after decades of dormancy in the national game.
