US desires to expand trade ties with Pakistan: Wilbur Ross

ISLAMABAD: US Secretary of Commerce Wilbur Ross called on Federal Minister for Energy Omar Ayub Khan and agreed to step up cooperation in the energy sector.

Wilbur Ross said his visit to Pakistan is part of the US government’s desire to increase trade links with Pakistan. He also believed that such links between both the counties would not only enhance trade but encourage further expansion of ties in all fields. They agreed to step up cooperation in the energy sector.

Special Assistant to Prime Minister on Petroleum Nadeem Babar and Federal Secretary of Power Division and Petroleum Division also attended the meeting.

Wilbur Ross is leading a US trade delegation to Pakistan focusing on methods to elevate trade and commercial ties between Pakistan and the United States.

Minister for Energy Omar Ayub Khan welcomed the US Secretary of Commerce and the visiting delegates. He gave an overview of Pakistan’s energy sector and the government’s efforts in reforming the energy sector of the country.

Omar Ayub Khan called for greater US investments in the energy sector including areas such as power generation, transmission and distribution, artificial intelligence, renewable energy, hydel energy, and training opportunities.

He reaffirmed Pakistan’s commitment to cleaner fuels and green energy. He said that Pakistan’s energy mix would be diversified by injecting more hydel and renewable sources into the national grid. He foresaw the share to increase by 52 percent by 2025 and 63 percent by 2030.

Special Assistant to Prime Minister on Petroleum Nadeem Babar informed the visiting side on key actions taken to improve ease of doing business in Pakistan.

He shared how more US investments could be incremental in improving the business relations between both the US and Pakistan. He welcomed the re-entry of ExxonMobil to Pakistan, terming it as a favourable development that could lead more US companies to follow suit.

Nadeem Babar commented that Pakistan offers exciting opportunities in infrastructure development, exploration and production sectors.