US, Pakistan agree to eliminate networks financing terrorism

By Sajid Chaudhry

ISLAMABAD: The United States has agreed to provide assistance to Pakistan to effectively eliminate networks financing terrorism and strengthen the enforcement of Pakistan’s Money Laundering Ordinance. The US would help in enhancing Pakistan’s monitoring capabilities and in strengthening the role of the State Bank of Pakistan in this regard.

Daniel S Sullivan, Assistant Secretary, US Bureau of Economic, Energy and Business Affairs told reporters that the third meeting of the Pakistan-US Economic Dialogue held here discussed issues relating to further deepening the bilateral economic partnership and developing a long-term, broad-based economic relationship that would benefit the citizens of both the countries.

Senior officials of the US departments of state, commerce, treasury, the office of the US Trade Representative, the US Agency for International Development, and the US embassy participated in the dialogue.

Trade: The two sides discussed a wide-ranging agenda, including macroeconomic policy, labour, intellectual property rights, energy, agricultural cooperation, eliminating terrorism finance networks, reconstruction opportunity zones (ROZs), a GOP scholarship proposal, foreign assistance and FATA development, regional cooperation and transit trade, private sector cooperation, and a Bilateral Investment Treaty (BIT).

“Negotiations on BIT were stalled in 2006 and it is a breakthrough that both the countries have agreed for resumption of these negotiations, as the conclusion of this agreement would help promote cooperation in many areas especially economic relations,” Sullivan added. Economic experts from both sides would meet for in-depth negotiations on BIT and would try to conclude their deliberations expeditiously.

Declaring security challenges as the reason behind the US travel advisory for Pakistan, he said that despite the advisory, the US was promoting businesses and investment in Pakistan.

Sullivan added that Pakistan and US had agreed on the importance of measures taken by the Pakistan government to stablise the economy. They also agreed to adhere to the announced macroeconomic policy and targets, and to continue Pakistan’s structural reforms, including monetary and fiscal adjustments. He said a fruitful discussion was held on establishing ROZs, which would facilitate job creation and economic development in FATA, NWFP, the earthquake-affected areas of Azad Kashmir, and Balochistan within 100 miles of the Afghan border. The ROZs would provide greater market access to exports from businesses in these areas and create employment opportunities for the border regions. During the dialogue, the possibility of civil nuclear cooperation between the two countries was not discussed, he said. However, he said, he was not aware if the issue had been discussed between the two sides during Prime Minister Yousuf Raza Gilani’s visit to the US.

Without mentioning the current political scenario of Pakistan, he said that political stability would help restore investors’ confidence.

Sullivan added that ways to increase opportunities for Pakistani students to study at US universities, including through expanding scholarship opportunities, were also considered.

Source: The Daily Times