Malik For Taking Optimum Benefits From US Markets

Faizan Hashmi Published August 19, 2025 | 04:40 PM

LAHORE, (UrduPoint / Pakistan Point News - 19th Aug, 2025) Founder Chairman US-Pakistan business Council Iftikhar Ali Malik has said the duty reduction has strengthened Pakistan’s competitive position in the US market.

Talking to reporters here Tuesday, he added that US is one of Pakistan’s top export destinations with trade surplus largely driven by textile shipments.

Malik said, the regional competitors like Bangladesh, Sri Lanka and Vietnam face 20 percent tariff, and India up to 50 percent, Pakistani exports now must benefit from a comparatively lower 19 percent rate. Pakistan has exportable surplus capacities in several industries, especially in value-added textiles, which hold strong potential for increased exports,” he noted.

Now the onus is on the private sector and government must facilitate the exporters to reach the destination within short possible time frame.

Pak exporters must rise to the occasion and capitalise on the relative advantage this agreement offers over regional competitors in the US market,” he maintained.

The goal is to translate recent diplomatic progress into tangible economic gains. "I am hopeful for further tariff concessions, particularly in light of rising imports of oil and other goods from the US. Currently, the trade balance is in our favour, though the total volume is relatively modest," he remarked.

Iftikhar Ali Malik said that prominent exporters supported government-led trade talks, citing the diverse interests across sectors. While textiles and apparel are key, other products matter too, and the talks go beyond exports to broader trade and investment. Extensive consultations were held with private businesses at every stage of the negotiation process, he confirmed.