Both sides pledge to accelerate negotiations as Pakistan seeks stronger trade and investment ties with the United States.
ISLAMABAD: Pakistan and the United States have made significant progress towards a proposed reciprocal trade agreement, with both sides reaffirming their commitment to conclude negotiations at the earliest to strengthen bilateral trade and investment.
The progress was reviewed during a meeting between Pakistan’s Finance Minister Muhammad Aurangzeb and United States Trade Representative Ambassador Jamieson Greer, who discussed the ongoing negotiations aimed at expanding economic cooperation between the two countries.
Negotiations Advance
Recalling their recent discussions in Washington, D.C., Aurangzeb welcomed the steady progress achieved by the negotiating teams and appreciated the constructive engagement that has characterised the talks.
Both sides noted that negotiations on the proposed reciprocal trade framework had advanced significantly and reiterated their shared commitment to finalising the agreement as soon as possible.
The meeting underscored the importance both governments attach to enhancing bilateral economic relations through a modern and mutually beneficial trade framework.
Pakistan Eyes Export-Led Growth
During the discussions, Aurangzeb emphasised the need to sustain the current momentum in line with Pakistan’s broader economic priorities.
He said a stronger trade and investment partnership with the United States would:
• Support Pakistan’s export-led growth strategy.
• Enhance the country’s economic resilience.
• Create greater commercial opportunities for businesses in both countries.
The finance minister also highlighted the importance of continued collaboration with the Export-Import Bank of the United States (EXIM Bank) to facilitate trade, investment and financing opportunities.
US Welcomes Reform Measures
Ambassador Jamieson Greer acknowledged Pakistan’s continued engagement throughout the negotiations and commended the progress made on labour and regulatory reforms.
He specifically welcomed Pakistan’s measures relating to forced labour compliance and reaffirmed the United States’ commitment to maintaining the positive momentum in bilateral trade discussions.
Greer expressed confidence that the remaining issues could be resolved through continued technical engagement between the negotiating teams.
Commitment to Early Agreement
Aurangzeb stressed the need for close coordination and accelerated technical-level discussions to build on the progress already achieved.
Both Pakistan and the United States expressed satisfaction with the advancement of negotiations and agreed to continue regular engagement to finalise the remaining elements of the reciprocal trade framework at the earliest opportunity.
The proposed agreement is expected to further strengthen the longstanding economic partnership between the two countries by promoting greater trade, investment and commercial cooperation.
The meeting was also attended by Commerce Secretary Jawad Paul and senior officials from the Office of the United States Trade Representative.