Bilateral trade, investment: Pakistan, US vow to boost cooperation

ISLAMABAD: Pakistan and the United States have reaffirmed their commitment to strengthening bilateral trade and investment, following a high-level meeting between Finance Minister Senator Muhammad Aurangzeb and Natalie Baker, Chargé d’Affaires of the US Embassy here.

During the meeting held at the Finance Division, both sides discussed avenues for expanding economic cooperation, finalising a landmark trade agreement, and unlocking new opportunities across key sectors including energy, minerals, IT, and cryptocurrency.

The finance minister stated that Pakistan’s economy had “turned a corner,” noting that the recent upgrade by Moody’s — aligning all three major international rating agencies in their assessment of Pakistan’s economic performance—was clear evidence that the hard and necessary reforms undertaken by the government were yielding positive results. He highlighted Pakistan’s bold and much-needed tariff reforms aimed at liberalising trade and steering the country towards export-led growth.

Aurangzeb thanked the US for its continued economic and development support to Pakistan and recalled his recent visit to Washington, DC, where he had constructive engagements with US Secretary of Commerce Howard Lutnick and United States Trade Representative Ambassador Jamieson Greer to finalise the trade agreement between both the countries.

The minister emphasised that the agreement would usher in a new era of economic collaboration —particularly in energy, mines and minerals, IT, cryptocurrency, and other sectors — while expanding market access, attracting investment, and fostering cooperation in areas of mutual interest.

He expressed hope that the deal would lead to increased US investment in Pakistan’s infrastructure, development projects, and digital and mining sectors, which were ready for tangible action and progress.

Natalie Baker said that the trade agreement presented a significant opportunity for both Pakistan and the US to expand bilateral trade. She noted that US companies were taking a keen interest in investment and entrepreneurial opportunities in Pakistan, particularly in supply chain, production, project management, energy, critical minerals, mining, and oil exploration.

Both sides reaffirmed their commitment to working closely together to advance these initiatives, ensuring mutually beneficial outcomes and further strengthening trade and economic cooperation between the two countries.

Copyright Business Recorder, 2025