ISLAMABAD:In a landmark development, Pakistan and the United States finalized a trade agreement aimed at boosting bilateral trade, expanding market access, attracting investment, and fostering cooperation in areas of mutual interest.
The breakthrough was reached during a meeting of Federal Minister for Finance Minister, Senator Muhammad Aurangzeb, with U.S. Secretary of Commerce, Howard Lutnick and United States Trade Representative Ambassador Jamieson Greer in Washington, D.C.
Secretary Commerce Jawad Paul and Pak Ambassador to the United States Ambassador Rizwan Saeed Sheikh were also present during the meeting, said a press release issued by finance ministry here adding President Trump announced the trade deal via a post on Truth Social.
The agreement will result in reduction of reciprocal tariff especially on Pakistani exports to the United States, it added.
This deal marks the beginning of a new era of economic collaboration especially in energy, mines and mineral, IT, cryptocurrency and other sectors.
The deal complements Pakistan’s existing efforts of broadening the scope of Pak-US economic ties and to include partnerships at the U.S. states level.
The agreement enhances Pakistan’s access to the U.S. market and vice versa. Additionally, the deal is expected to spur increased U.S. investment in Pakistan’s infrastructure and development projects.
This trade agreement underscores the commitment of both nations to deepen their bilateral relationship and explore all avenues for strengthening trade and investment ties.
