Karachi:
Pakistan and the United States have decided to conclude commercial talks next week, the South Asian nation announced on Wednesday after a meeting between its Minister of Finance Muhammad Aurangzeb and the US Secretary in Commerce Howard Lunick.
Negotiations, focused on reciprocal prices, are part of a wider thrust to reset economic ties at a time of displacement of geopolitical alignments and Pakistan efforts to avoid steep American tasks on exports.
“The two parties have shown satisfaction with the negotiations in progress and decided to conclude the commercial negotiations next week,” the Ministry of Finance said in a press release, adding that a strategic and longer -term investment partnership is also under discussion.
Pakistan faces a 29% tariff on exports to the United States under President Donald Trump’s measures to target countries with major trade surpluses with the surplus of American Pakistan was around $ 3 billion in 2024.
To compensate for imbalance and facilitate pricing pressures, Islamabad proposed to import more American goods, including crude oil, and to open investment opportunities thanks to concessions for American companies in the mining sector of Pakistan.
Earlier this week, the two countries co-organized a webinar promoting investments in the Pakistan mineral sector, including the Reko Diq copper project of $ 7 billion.
High officials of American governments and investors have discussed public-private partnerships and regulatory reforms.
The American export-import bank examines financing proposals worth $ 500 million to $ 1 billion in Reko Diq.
Trump, who welcomed Marshal Gen Asim to the White House last week, said trade earlier that helps avoid a deeper conflict between Pakistan and India.
Meanwhile, the United States and Pakistan have agreed to increase bilateral economic and commercial links and significant commitment in investment and negotiation on relevant economic issues.
The Minister of Finance Muhammad Aurangzeb held a virtual meeting with the US Secretary of Commerce Howard Lutnick.
The discussion focused on significant commitment in trade, investment and deepening of mutually beneficial economic links on both sides with technical trade discussions which will end next week, said a press release published here on Wednesday.
A virtual meeting took place between Mr. Muhammad Aurangzeb, Minister of Finance and Howard Lutnick, United States Trade Secretary on the United States Reciprocal Prices (United States), said a press release published here on Wednesday.
The two parties showed satisfaction with the current negotiations and decided to conclude the commercial negotiations next week.
It has also been resolved that, in addition to the trade agreement, a partnership, based on strategic and investment interests, would be concluded in due course covering the areas of mutual interest. The two parties expressed their confidence in the conclusion of commercial negotiations at the earliest.
