Pakistan and the US are engaged in trade discussions, with officials saying an understanding on a tariff deal was reached between the two countries earlier this month that could shape the future of Pakistan’s key export sectors.
Expressing optimism about the progress of the bilateral trade agreement (BTA) negotiations, Pakistan’s Finance Ministry released a statement after its Finance Minister, Muhammad Aurangzeb, held meetings with US Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer in Washington on Friday.
“They (Pakistan and the US) reaffirmed their commitment to exploring opportunities to strengthen these ties in all possible areas of mutual benefit,” the statement read.
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Both sides are satisfied with progress made in enhancing trade ties and optimistic about positive outcomes for Islamabad and Washington, according to the finance ministry’s overnight statement.
“Finance Minister Aurangzeb emphasised that the US remains Pakistan’s largest trading partner and underscored Pakistan’s interest in expanding cooperation in both traditional and non-traditional sectors, including IT and tech sector, minerals, and agriculture, to foster a mutually beneficial relationship,” the statement said.
A formal announcement on the proposed deal is expected only after the US concludes similar ongoing negotiations with other trade partners.
The US-Pakistan ties, which had been under strain, received a major boost after Trump hosted Chief of Army Staff Field Marshal Asim Munir at the White House last month for a lunch and meeting.
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