The US will provide financial and technical assistance to help increase Pakistan's horticulture exports to $1 billion by 2012, a report said.

The United States Agency or International Development (USAID) will help with innovative methods to increase the competitiveness of the horticulture sector in Pakistan, said the Khaleej Times report.

The decision was announced following the first meeting of the Implementation Committee of the Task Force on Finance and Competitiveness of the horticulture sector in Pakistan.

Speaking on the occasion, Arthur Bayhan, chief executive officer of the Competitiveness Support Fund (CSF) — a joint venture of USAID and Pakistan's ministry of finance — briefed the members of the implementation committee about the new methods used in several emerging market economies to promote financing and competitiveness of the sectors that have potential to grow.

Pakistan's current horticulture exports total $150 million.