Trade And Investment Framework Agreement (Tifa)Between Pakistan And Usa

The U.S. trade deficit with Taiwan was $15.2 billion in 2006, up $2.4 billion from $12.8 billion in 2005. U.S. exports of goods reached $23.0 billion in 2006, up 4.3 percent from the previous year. U.S. imports from Taiwan amounted to $38.2 billion, an increase of 9.7 percent. Taiwan has been the 11th largest export market for U.S. products since June 2015. U.S.

exports of private commercial services (excluding military and government) to Taiwan amounted to $6.4 billion in 2005 (latest available data) and U.S. imports amounted to $6.4 billion. The United States and Taiwan held a productive meeting at the fifth meeting of the TIFA Joint Council, held in Taipei from May 25 to 26, 2006, on issues related to agricultural trade, intellectual property rights, medicines, government procurement and investment, and other areas. The United States and ASEAN concluded the United States-ASEAN Trade and Investment Agreement (TIFA) in 2006 and have been working since then to establish U.S.-ASEAN trade and investment relations and promote ASEAN regional economic integration. The United States intensified its work under the TIFA in 2009 and presented senior ASEAN officials with a series of ambitious proposals to be followed under the tifa work plan. These proposed initiatives aim to achieve concrete results in a wide range of areas, including trade facilitation, logistics, the digital economy, trade finance, trade and the environment. The ten ASEAN member countries together form the fourth largest export market for the United States and its fifth-largest trading partner in both directions. ASEAN countries include Brunei, Burma, Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

Trade between the United States and ASEAN continues to grow, and bilateral trade in goods amounted to $177 billion in 2008. With robust economies and a total population of about 550 million, the ten member countries of the ASEAN market offer considerable potential opportunities for U.S. companies. Pakistan and the United States began negotiating a bilateral investment agreement (BIT) in 2004 and concluded the text in 2012, but the agreement was not signed due to reservations from Pakistani stakeholders. Pakistan has concluded bilateral investment agreements with Australia, Azerbaijan, Mauritius, Bahrain, Bangladesh, Morocco, Belarus, the Netherlands, the Belgian-Luxembourg Economic Union, Oman, the Philippines, Bosnia, Portugal, Bulgaria, Qatar, Cambodia, Romania, China, Singapore, the Czech Republic, South Korea, Denmark, Spain, Egypt, Sri Lanka, France, Sweden, Germany, Switzerland, Indonesia, Syria, Iran, Tajikistan, Italy, Tunisia, Japan, Turkey, Kazakhstan, Turkmenistan, Kuwait, United Arab Republic, Kyrgyz Republic, United Kingdom, Lebanon, Uzbekistan, Laos and Yemen. . . .