Pakistan Seeks Economic Re-Engagement with The US
The Chinese-Pakistani Economic Corridor (CPEC) project is one avenue for investment that the government has set up an apex committee to pursue in its efforts to reestablish economic ties with the new US administration.
The 14-member ministerial apex committee will meet at the Foreign Office the following week to go over various business and economic initiatives aimed at strengthening ties with the US.
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After two and a half years of sluggish CPEC progress, the agenda for the first meeting suggests that the ruling Pakistan Tehreeke-Insaf wants to rekindle economic ties with Washington.
According to the Board of Investment (BoI), Pakistan can cooperate with the US through the CPEC, but we must be sensitive to both US and Chinese concerns. In the past, China had turned down Pakistan’s request to involve Saudi Arabia in the CPEC project.
Increased US foreign direct investment in Pakistan has also been suggested by the Board of Investment, primarily through tech firms. Additionally, the BoI makes use of unique incentive programmes to draw in US investment.
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