Aurangzeb, Lutnick hold high-level talks to boost Pakistan-US trade & investment
- Both sides commit to furthering their engagements on investments in major projects
A high-level Pakistani delegation, led by Finance Minister Senator Muhammad Aurangzeb, held talks with US Commerce Secretary Howard A. Lutnick in Washington DC, focusing on strengthening bilateral trade and investment ties.
Aurangzeb was accompanied by the Secretary of Commerce, Pakistan’s Ambassador to the United States and trade and economic ministers, read a statement on Saturday.
“Both sides expressed the desire to enhance our economic cooperation, especially in the fields of trade and investment, besides discussing the USA’s interest in investing in fields of ICT, mining, minerals and energy,” it added.
The Minister of Finance appreciated the role of the US Chamber of Commerce in organising the US-Pakistan Trade and Investment Forum on 31st March, 2026, which would be attended by renowned companies from both countries, besides ministerial representation from Pakistan and the USA.
Aurangzeb expressed the hope that the office of the US Commerce Secretary would also participate in the same.
Both sides reiterated their commitment to further their engagements on investments in major projects in the coming months, added the statement.
Last week, Aurangzeb said he would travel to the United States to advance economic engagement, as Pakistan reassessed its trade positioning following recent agreements between New Delhi and Washington, with Bangladesh also reaching an understanding with Washington, which has unsettled local industry.
Days ago, Pakistan agreed with the US government to jointly redevelop New York’s Roosevelt Hotel, the government in Islamabad, allowing Islamabad to unlock value from its major overseas investment.
Restructuring and privatisation of state assets are central to Pakistan’s $7 billion programme agreed with the International Monetary Fund (IMF), and the century-old hotel in Midtown Manhattan owned by Pakistan’s national airline plays a key role in those plans.
The hotel, which the cash- strapped South Asian nation has estimated could be worth more than $1 billion, has been closed since 2020 and is considered for redevelopment rather than outright sale.
The two countries signed a memorandum that outlines plans to cooperate on the operation, maintenance, renovation, and redevelopment of the hotel.
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