ISLAMABAD: Deputy Prime Minister and Foreign Minister Ishaq Dar on Tuesday expressed confidence that bilateral trade between Pakistan and the United States could reach $20 billion over the next five years, citing growing economic cooperation and investment opportunities.
Dar made the remarks while addressing a delegation of US lawmakers and business leaders in Islamabad.
The visiting delegation included US Congressmen Ryan Zinke and Michael Baumgartner, who are currently in Pakistan to strengthen bilateral engagement.
The foreign minister described robust economic cooperation as the cornerstone of a strong and enduring Pakistan-US partnership. He noted that the United States remains Pakistan’s largest single-country export destination, with two-way merchandise trade reaching $9.4 billion during the last fiscal year.
He said the existing trade volume demonstrated significant potential for expansion and expressed optimism that stronger commercial ties and complementary economic strengths could help double bilateral trade to $20 billion within five years.
Highlighting the depth of economic relations, Dar said Pakistan is one of the major importers of US cotton and is becoming an increasingly important market for American energy products. At the same time, he said Pakistan’s rising demand for advanced technology, industrial machinery, and capital equipment presents substantial opportunities for US businesses.
The deputy prime minister also pointed to the presence of more than 80 American companies operating in Pakistan, describing it as a sign of international confidence in the country’s economy and long-term growth prospects.
He said Pakistan’s improving macroeconomic indicators, ongoing structural reforms, and competitive US tariff environment make the country an attractive destination for fresh investment.
Dar highlighted the role of the Special Investment Facilitation Council (SIFC) in providing a streamlined, one-window platform for investors and encouraged the visiting delegation to work closely with the council to explore business opportunities and develop long-term partnerships.
He invited the US delegation to engage with government officials and potential business partners to identify new investment opportunities that would benefit both countries.
Emphasizing the importance of stronger economic ties, Dar said expanding trade and investment would create jobs, encourage innovation, and generate shared economic growth while further strengthening bilateral relations.
He added that closer Pakistan-US cooperation would also contribute to regional stability and global peace during a period of increasing international uncertainty.
The foreign minister also thanked US President Donald Trump and his administration for supporting efforts that helped secure a ceasefire between Pakistan and India following heightened tensions in May 2025.
Dar further expressed appreciation for the confidence placed in Pakistan to facilitate negotiations related to the US-Iran conflict, which resulted in the signing of the Islamabad Memorandum of Understanding in June.
Reaffirming Pakistan’s foreign policy stance, he said the country would continue to support dialogue, diplomacy, and the peaceful resolution of disputes as the most effective path toward lasting peace and stability.
