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India's Economic Rise Presents Huge Opportunity For Pak: US

Washington, Jul 16:  India's rise offers a huge opportunity for Pakistan which is facing major economic challenges, a top US official has said, advocating that Islamabad should consider improving its trade ties with its neighbour.“India's
india s economic rise presents huge opportunity...
PTI 16 Jul 2011, 14:34:05 PM IST

Washington, Jul 16:  India's rise offers a huge opportunity for Pakistan which is facing major economic challenges, a top US official has said, advocating that Islamabad should consider improving its trade ties with its neighbour.

“India's economic rise presents a huge opportunity for Pakistan, a bilateral breakthrough could provide a catalyst for wider regional economic integration in South and Central Asia,” Robert Hormats, Under Secretary for Economic, Energy and Agricultural Affairs, said.

Hormats said the pace of economic integration in the Asia Pacific region as a whole over the last two decades has been unprecedented and should serve as an example for other regions.

“It should, and I believe it can, be replicated in South Asia as well. Hundreds of millions of people would benefit from such increased collaboration,” he said.

Hormats, who is part of the high-power US delegation for next week's India-US Strategic Dialogue in New Delhi, said the two countries already work together in a wide range of areas resulting in enhanced trade and investment and mutual job creation.

Trade between the US and India has doubled twice in the past ten years. It continues to grow and drive their economic partnership.

In 2010, the two-way trade was up almost 30 per cent from the year before.

“In Delhi and Chennai (the two cities to be visited by the US delegation) we will consider ways to further expand these numbers,” Hormats said. PTI

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