WASHINGTON: US President Donald Trump said on Wednesday his administration struck a deal with Pakistan in which Washington would work with Islamabad in developing the South Asian nation’s oil reserves.
“We have just concluded a Deal with the Country of Pakistan, whereby Pakistan and the United States will work together on developing their massive Oil Reserves,” Trump wrote on social media.
“We are in the process of choosing the Oil Company that will lead this Partnership. Who knows, maybe they’ll be selling Oil to India some day!”
Pakistan says it’s close to US trade deal, Washington gives no timeline
Trump’s social media post did not provide further details on the deal between the US and Pakistan. The Pakistani embassy in Washington had no immediate comment.
Last week, Pakistani Foreign Minister Ishaq Dar said the United States and Pakistan were “very close” to a trade deal that could come within days, after he met with Secretary of State Marco Rubio on Friday.
Under Trump, Washington has attempted to renegotiate trade agreements with many countries that he threatened with tariffs over what he calls unfair trade relations. Many economists dispute Trump’s characterization.
Trade talks: Finance minister Aurangzeb leaves for US
The US State Department and Pakistan’s foreign ministry, in separate statements after Rubio’s meeting with Dar, said last week the two top diplomats stressed in their discussion the importance of expanding trade and ties in critical minerals and mining.
“Our teams have been here in Washington discussing, having virtual meetings and a committee has been tasked by the prime minister to fine tune now,” Dar said last week about U.S.-Pakistan talks.
American Dollar Exchange Rate