Trade talks: Finance minister Aurangzeb leaves for US

Finance minister Muhammad Aurangzeb departed on Monday for the United States (US) “to conclude Pakistan-US trade talks”, a statement from the Finance ministry said.

During the visit, final discussions on the Pakistan-US trade dialogue would take place, it added.

“There are vast opportunities for partnership between the two countries in key sectors such as IT, minerals, and agriculture.”

Pakistan has been seeking to fetch a trade deal with the US since after President Donald Trump announced reciprocal tariffs on countries around the world in April this year.

Pakistan formally initiated talks with the US on the reciprocal tariffs in May, with both sides exchanging viewpoints through an engagement with the understanding that technical level detailed discussions would follow in the coming weeks.

Finance ministry on Monday said the formation of a trade agreement between the two countries would benefit both economies.

“Strong trade and economic relations are a key pillar of Pakistan-US bilateral ties.

“The United States is Pakistan’s largest trading partner.

“Pakistan is keen to expand bilateral trade relations into both traditional and non-traditional sectors,” the statement read.

Bilateral ties between Pakistan and US have improved in recent times, with Trump’s holding a rare meeting with Field Marshal Asim Munir at the White House.