Finance Minister Muhammad Aurangzeb on Friday met with US Secretary of Commerce Howard Lutnick and United States Trade Representative Ambassador Jamieson Greer in an effort to strengthen trade ties, according to a statement from the finance ministry.
Pakistan and the US concluded a critical round of trade negotiations earlier this month, reaching an understanding on a deal that could shape the future of the country’s key export sectors.
While both sides reached an understanding, a formal announcement is expected only after the US concludes similar ongoing negotiations with other trade partners.
According to the finance ministry, Aurangzeb had a “productive meeting” with Lutnick and Greer in Washington DC, with both sides satisfied with progress made in enhancing trade ties.
“They (Pakistan and the US) reaffirmed their commitment to exploring opportunities to strengthen these ties in all possible areas of mutual benefit,” the statement read.
“Finance Minister Aurangzeb emphasised that the US remains Pakistan’s largest trading partner and underscored Pakistan’s interest in expanding cooperation in both traditional and non-traditional sectors, including IT and tech sector, minerals, and agriculture, to foster a mutually beneficial relationship.”
According to the finance ministry, both parties “expressed optimism” that ongoing trade talks would yield positive outcomes and economic benefits for Islamabad and Washington.
US-Pakistan relations saw a major boost when Trump hosted Chief of Army Staff Field Marshal Asim Munir at the White House last month in an unprecedented meeting.
During the meeting, Trump “lauded Pakistan’s ongoing efforts for regional peace and stability, and appreciated the robust counterterrorism cooperation between the two states”, a statement from the Inter-Services Public Relations said.
In April, the Pakistan Crypto Council partnered with World Liberty Financial, a decentralised finance platform backed by United States President Donald Trump, to advance cryptocurrency applications and boost blockchain adoption.
American Dollar Exchange Rate