- The United States is the largest export market in Pakistan with $ 5 billion in commerce.
- The American loading affairs meet finmin aurangzeb in Islamabad.
- The financial tsar leaves for Washington for commercial conferences.
Washington / Islamabad: Finance Minister Muhammad Aurangzeb left his second visit to the United States in two weeks to finalize a trade agreement with Washington, according to an official statement published on Monday evening.
The trip comes after the Minister of Foreign Affairs, Ishaq Dar, said on Friday that the United States and Pakistan were “very close” to a trade agreement that could come in a few days, but comments from the United States after Dar met with Secretary of State Marco Rubio did not mention any calendar.
“A final discussion on the Pakistan-American trade dialogue will take place during the visit,” the Ministry of Finance said in a statement, adding that a trade agreement will benefit the two countries.
Aurangzeb attended a meeting in the PM office, after which he was invited to leave for Washington to conclude a trade agreement with the United States. The Trump administration had given a deadline of August 1; Otherwise, they would implement a higher rate against countries on a reciprocal basis.
Earlier, the Minister of Finance held a meeting with the US officials in the Federal capital, and it seems that the commercial negotiations between the parties were finalized, and an official announcement is expected shortly after the arrival of the Pakistani high-ups in Washington DC.
The question arises if Pakistan grants an exemption from giant IT platforms on recently promulgated tax products under the finance law, then Islamabad should also grant the same treatment to Chinese companies.
Negotiations, focused on reciprocal prices, are part of a broader thrust to reset economic ties at a time of displacement of geopolitical alignments and Islamabad efforts to avoid steep American tasks on exports.
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 Washington.
The surplus of 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.
American-Pakistani relations experienced a major boost when Trump welcomed the chief Marshal of the Pakistani army Asim Mnir at the White House last month for an unprecedented meeting.
Pakistan aims to extend bilateral trade relations in traditional and non -traditional sectors, the Ministry of Finance said.
There is an important potential for partnerships in key sectors such as information technologies, minerals and agriculture, he added.
Dar, Rubio discuss prices, bilateral questions
Pakistan and the United States continued talks on prices on Monday, while Islamabad pushes to conclude an agreement before the deadline of August, The news reported Tuesday.
The discussion marked the second engagement in three days, following the meeting of the Deputy Prime Minister and Minister of Foreign Affairs Ishaq Dar with US Secretary of State Marco Rubio in Washington on July 25.
“The Deputy Prime Minister and Minister of Foreign Affairs Ishaq Dar spoke to the US Secretary of State Marco Rubio on the phone today,” the Ministry of Foreign Affairs said in a statement.
Following their productive meeting last Friday in Washington DC, the FO said that they had discussed key bilateral issues, including prices, as well as regional and global questions of mutual interest.
Pakistan seeks to extend its bilateral business links with the United States beyond traditional sectors, aimed at including unconventional areas such as information technologies, minerals and agriculture. The two parties recognize the vast potential for collaboration in these strategic fields.
Aurangzeb’s visit is considered to be a crucial development in the effort to deepen economic engagement and to explore new partnership paths, particularly emphasizing the improvement of trade flows and the promotion of long -term investment opportunities.
Elizabeth Horst, US manager in Pakistan, called the Minister of Finance Aurangzeb on Monday to the Finance Division. Reunion was an opportunity to discuss opinions on questions of mutual interest and to reaffirm the positive trajectory of bilateral relations between Pakistan and the United States.
The Minister of Finance expressed his appreciation for long-standing support extended by the United States to the economic development of Pakistan. He particularly praised the continuous support of the United States to the macroeconomic stability obtained in the last year and a half, and praised the healthy momentum of bilateral engagement in various sectors.
Recalling his recent visit to the United States, the Minister shared the ideas of his productive meetings with the American secretary to trade Howard Lutnick and the ambassador of the representative of the United States Jamieson Greer in Washington, DC. He noted encouraging progress in the deepening of trade and economic relations between the two countries.
Senator Aurangzeb stressed the importance of the United States as the largest trading partner in Pakistan and highlighted Pakistan’s lively interest to expand bilateral cooperation beyond traditional sectors. He specifically highlighted the promising potential in information technology, minerals and agriculture as ways for mutually beneficial collaboration.
The Minister also informed Horst about recent macroeconomic indicators of Pakistan, including sovereign upgrades and renewed trust in investors. He described the government’s reform program, focused on critical fields such as taxation and energy, aimed at unlocking sustainable and long -term economic growth. In addition, he shared updates on the successful entry of Pakistan into the capital markets of the Middle East, his upcoming plans to issue the inaugural panda obligation and future access to the euros and dollars markets.
Horst praised economic progress and the government’s approach focused on reform, emphasizing American commitment to strengthen economic and commercial ties with Pakistan. It reiterated American support for economic and political stability continues in Pakistan and expressed its optimism for a sustainable and solid commercial partnership between the two nations.
The meeting ended with a mutual commitment to rely on the momentum of current commitments to further deepen bilateral cooperation.
– with an additional reuters input
