Karachi:
Pakistan and the United States have resolved to conclude commercial conversations next week, said the South Asia Nation Wednesday after a meeting between its Minister of Finance, Muhammad Aurengzeb, and the United States Secretary of Commerce, Howard Lutnick.
Negotiations, focused on reciprocal rates, are part of a broader impulse to restore economic ties at the time of changing geopolitical alignments and Pakistan’s efforts to avoid the steep American duties in exports.
“Both parties showed satisfaction in the ongoing negotiations and resolved to conclude trade negotiations next week,” said the Ministry of Finance in a statement, added that a longer -term strategic and investment association is also under discussion.
Pakistan faces a 29% tariff on exports to the United States under the measures of President Donald Trump to attack countries with large commercial surpluses with the Pakistan surplus of the United States was around $ 3 billion in 2024.
To compensate for the imbalance and facilitate tariff pressures, Islamabad has offered to import more American assets, including crude oil, and open investment opportunities through concessions for US companies in the Pakistan mining sector.
Earlier this week, the two countries were co -elites of a web seminar that promotes investment in the Pakistan mineral sector, including the Reko Diq Copper DIQ project of $ 7 billion.
High officials of American governments and investors discussed public-private associations and regulatory reforms.
The US Export-Import Bank is reviewing financing proposals worth $ 500 million to $ 1 billion in Reko diq.
Trump, who received the Marshal Gen also in the White House last week, said that trade helped avoid a deeper conflict between Pakistan and India.
Meanwhile, the United States and Pakistan have agreed to increase bilateral economic and commercial ties and significant commitment in investment and negotiation on relevant economic issues.
The Minister of Finance, Muhammad Aurengzeb, held a virtual meeting with the United States Secretary of Commerce, Howard Lutnick.
The discussion focused on the significant participation in trade, investment and deepening of mutually beneficial economic ties for both parties with discussions related to trade at the technical level that will be completed next week, said a press release issued here on Wednesday.
A virtual meeting was held between Mr. Muhammad Aurengzeb, Minister of Finance and Howard Lutnick, Secretary of Commerce of the United States on reciprocal tariffs of the United States (USA), said a press release issued here Wednesday.
Both parties showed satisfaction with the ongoing negotiations and resolved to conclude the trade negotiations next week.
It was also resolved that, in addition to the commercial agreement, an association, based on strategic and investment interests, would be completed in due time that covers areas of mutual interest. Both parties expressed their confidence in concluding trade negotiations as soon as possible.
