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Pakistan and U.S. Reaffirm Commitment to Strengthen Trade Relations

Finance Minister Muhammad Aurangzeb meets U.S. Trade Representative to advance reciprocal trade framework.

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Pakistan and U.S. Reaffirm Commitment to Strengthen Trade Relations
Finance Minister Muhammad Aurangzeb (left) and U.S. Trade Representative Ambassador Jamieson Greer discuss bilateral trade negotiations.

Key Takeaways

  • Finance Minister Muhammad Aurangzeb met with U.S. Trade Representative Ambassador Jamieson Greer.
  • Negotiations on a reciprocal trade framework have advanced significantly, both sides reaffirmed their commitment.
  • Pakistan emphasized the importance of continued collaboration with the U.S. Export-Import Bank.

Finance Minister Muhammad Aurangzeb held a virtual meeting with Ambassador Jamieson Greer, the United States Trade Representative (USTR), to review progress on ongoing negotiations aimed at strengthening bilateral trade and economic cooperation between Pakistan and the United States.

The meeting, which took place on Wednesday, was attended by Federal Secretary for Commerce, Mr. Jawad Paul, and senior team members of the USTR.

Pakistan and U.S. Reaffirm Commitment to Strengthen Trade Relations

Both sides noted that negotiations on the proposed reciprocal trade framework have advanced significantly and reaffirmed their shared commitment to concluding the agreement at the earliest.

Aurangzeb highlighted the importance of maintaining the momentum of negotiations in view of Pakistan's economic priorities. He emphasized that a strengthened trade and investment partnership with the United States would contribute to Pakistan's export-led growth strategy, support economic resilience, and create greater commercial opportunities for businesses in both countries.

Ambassador Greer acknowledged Pakistan's continued engagement throughout the negotiations and appreciated the progress made on labour and regulatory reforms, including measures relating to forced labour compliance. He reaffirmed the United States' commitment to sustaining the positive trajectory of bilateral trade discussions and expressed confidence that the remaining issues could be resolved through continued technical engagement.

The Finance Minister emphasized the importance of maintaining close coordination and accelerating technical-level discussions to build on the progress already achieved. Both sides expressed satisfaction with the progress achieved and agreed to continue working closely to finalize the remaining elements of the framework, aiming for a swift conclusion of the reciprocal trade agreement.

During the meeting, Aurangzeb also underscored the importance of continued collaboration with the U.S. Export-Import Bank (EXIM) to facilitate bilateral trade and investment.