Pakistan, June 26 -- Pakistan and the United States agreed in principle on Wednesday to establish a joint working group to expand cooperation in the maritime sector, as Islamabad seeks greater American investment to support its ambitions of becoming a regional trade and transshipment hub.

The understanding was reached during a meeting between Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry and US Charge d'Affaires Natalie A. Baker, who discussed ways to strengthen bilateral cooperation in port development, logistics and the blue economy.

"Pakistan is creating a business-friendly environment for foreign investors and welcomes greater American participation in developing Pakistan's blue economy," Chaudhry said, accord...