Pakistan’s Finance Minister Muhammad Aurangzeb has embarked on his second visit to the United States in just two weeks, as Islamabad and Washington move closer to finalising a much-anticipated bilateral trade agreement.
The finance ministry, in a press release issued late Monday, confirmed that Aurangzeb would hold concluding discussions with senior US officials, including Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer.
The current round of negotiations builds on earlier talks held in May, when both sides launched a technical dialogue over reciprocal tariffs following Washington’s proposal to impose a 29% duty on Pakistani exports. While the decision was later suspended temporarily, it prompted Islamabad to seek a long-term arrangement to secure trade access and prevent future tariff hikes.
Aurangzeb described his previous talks in Washington on July 18 as “productive and constructive,” indicating that both nations were keen to resolve outstanding issues and solidify an economic framework that supports mutual growth.
“The aim is to formalise a comprehensive trade agreement expected to yield mutual economic benefits for both nations,” the finance ministry said, adding that robust economic ties remain the foundation of US-Pakistan relations.
To ease tariff pressure and balance trade, Pakistan has offered to increase imports of US goods, including crude oil, and extend investment concessions in sectors such as mining, agriculture, and information technology.
Currently, the United States remains Pakistan’s largest trading partner. In 2024, Pakistan registered a trade surplus of $3 billion with the US, which had prompted former President Donald Trump’s tariff measures on countries with significant surpluses.
Officials said that the broader objective is to expand cooperation into non-traditional sectors and attract long-term US investment in critical areas like energy, minerals, and tech-based industries.
The finance ministry reaffirmed that the outcome of this dialogue could reset Pakistan-US economic relations amid shifting geopolitical dynamics and evolving strategic partnerships.
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