Pakistan and the United States have reaffirmed their commitment to deepening economic cooperation, agreeing to push forward a new trade agreement aimed at expanding market access, boosting investment, and promoting collaboration in key sectors. The understanding was reached during a meeting between US Chargé d’Affaires Natalie Baker and Finance Minister Muhammad Aurangzeb in Islamabad.
Aurangzeb highlighted Pakistan’s recent economic turnaround, backed by a Moody’s rating upgrade to Caa1, crediting bold tariff reforms and export-oriented growth strategies. He said the agreement would open doors for enhanced cooperation in energy, minerals, IT, cryptocurrency, and infrastructure. The US imposed a reciprocal 19% tariff on Pakistani goods last month, significantly lower than the proposed 29% and below rates applied by India, Bangladesh, Vietnam, and Sri Lanka.
Baker noted growing US interest in Pakistan’s supply chain, energy, mining, and oil exploration sectors. Both sides agreed to fast-track the trade deal, aiming to attract US investment and strengthen economic collaboration, ensuring mutually beneficial outcomes.
