KARACHI: Pakistan is seeking greater investment from US companies and financial institutions as it advances negotiations with Washington on a reciprocal trade framework, the finance ministry said.
“The Finance Minister emphasized the importance of identifying specific, investment-ready projects and developing appropriate financing structures to facilitate greater participation by US companies and financial institutions,” the finance ministry said in a statement following a meeting between Finance Minister Muhammad Aurangzeb and US Chargé d’Affaires Natalie Baker.
The ministry said Aurangzeb sought greater participation by US financial institutions, including the US International Development Finance Corporation, which provides financing and political-risk support for private-sector projects in emerging markets.
The two officials discussed potential US participation in ports and logistics, energy, telecommunications, digital technology and artificial intelligence, as well as other emerging sectors, according to the Pakistani statement.
The ministry said Baker expressed continued US interest in strengthening trade, investment and economic cooperation with Pakistan, particularly through greater participation by American companies in key sectors.
Aurangzeb also discussed Pakistan’s efforts to access international capital markets, diversify its sources of financing, rebuild foreign exchange reserves and secure longer-term funding, according to Monday’s statement.
The discussions also covered a proposed reciprocal trade framework that Islamabad and Washington have been negotiating to expand market access and bilateral commerce.
The finance ministry said Aurangzeb briefed Baker on Pakistan’s recent discussions with the Office of the United States Trade Representative, the US government agency responsible for negotiating and developing American trade policy.
He noted “the considerable progress made in the discussions” and emphasized Pakistan’s interest in advancing the reciprocal trade framework “on a mutually beneficial basis, including through enhanced market access, greater export opportunities and increased bilateral trade,” the ministry said.
The latest discussions follow a virtual meeting last week between Aurangzeb and US Trade Representative Jamieson Greer, after which Pakistan’s finance ministry said negotiations on the proposed framework had “advanced significantly.”
That statement said the two sides wanted to conclude the agreement at the earliest and would accelerate technical-level discussions to resolve its remaining elements. Neither government has publicly disclosed the proposed framework’s detailed terms or identified the issues that remain unresolved.
