WASHINGTON D.C: 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 finance minister, Mohammad Aurangzeb, with U.S. Secretary of Commerce Howard Lutnick and United States Trade Representative Ambassador Jamieson Greer in Washington, D.C.
President Donald 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.
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-U.S. 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.
President Donald Trump, in a post on Truth Social, said the US has concluded a deal with Pakistan whereby Pakistan and the US will work together on developing their massive oil reserves. He said we are in the process of choosing the oil company that will lead this partnership.
