In a bid to strengthen economic ties with the US, Federal Minister for Finance Muhammad Aurangzeb met with Rizwan Saeed Sheikh, Ambassador of Pakistan to the US, on Thursday.
According to a press statement issued by the Finance Division, the meeting focused on strengthening the Pakistan-US bilateral relationship, particularly in the areas of trade, investment, and economic cooperation.
A key focus of the meeting was engaging the Pakistani diaspora in the US to promote investment opportunities in Pakistan.
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“Given the positive macroeconomic developments in Pakistan, including improvements in key economic indicators and enhanced macroeconomic stability, both the minister and the envoy agreed to capitalize on these openings by actively promoting investment opportunities in Pakistan, with a focus on engaging the Pakistani diaspora,” read the statement.
The US remains Pakistan’s largest trading partner and export destination.
During the meeting, both sides agreed to further enhance economic diplomacy and explore new opportunities for joint business ventures and economic collaborations between the two countries.
The meeting also decided to ensure regular updates on macroeconomic data with stakeholders and the diaspora in the US to encourage investment in Pakistan’s growing economy.
On Tuesday, during a meeting with Donald Blome, the US Ambassador to Pakistan, Aurangzeb acknowledged the United States support in facilitating the signing of the Stand-by Arrangement (SBA) and the subsequent Extended Fund Facility (EFF) with the International Monetary Fund (IMF).
Last year in July, the IMF reached a staff-level agreement (SLA) with Pakistan for a $7-billion, 37-month loan programme in July, aimed at cementing stability and inclusive growth.
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