Pakistan (Commonwealth Union)_ According to the country’s ambassador to the United States, Pakistan has pledged to strengthen its commercial ties with the United States and is altering its regulatory framework accordingly. During the US Soybean Export Council (USSEC) meeting at the Pakistan Embassy, Ambassador Masood Khan assured of this commitment. He stated, “Pakistan is committed to easing the regulatory regime and facilitating businesses in the country. Expanding trade ties with the US remains a foremost priority of the government.”
The United States is Pakistan’s top trading partner and export market accounting for $12 billion bilateral trade volume. In 2022, Pakistan shipped over $5.9 billion worth of products to the United States while imported over $3.17 billion worth of products from the United States. The ambassador reassured the USSEC delegation that Pakistan is collaborating with the US business community to promote cooperation in the agriculture sector through the exchange of information, skills, and research data targeted at boosting agricultural output.
The council represents the whole spectrum of the US soy supply chain, including farmers, processors, commodity shippers, merchandisers, related agribusinesses, and agricultural organizations. USSEC is a global leader in soy market development and satisfying demands for human consumption, aquaculture, and animal feed, operating across 80 countries. Doug Winter, head of the council, informed the ambassador that the organization desires to support Pakistan with livestock development and soy requirements. He stated, “There is a huge scope of forging a win-win partnership with Pakistan”. Annually, the United States produces around 120 million tonnes of soy, of which 60% is sold abroad. Annual soy exports to Pakistan are below one million tonnes.
The mission also addressed the regulatory structure and rules governing the entry of genetically modified items with the Pakistani delegation, which included Azmat Mahmud, the Trade Minister of the embassy. Ambassador Khan stated that Pakistan is simplifying the regulatory environment for imports to benefit the business sector and making every effort to expedite the clearance procedures. He also urged the team to contribute their share in establishing connections between US farmers, processors, merchants, and other members of the soy supply chain and their Pakistani counterparts.
