ISLAMABAD: Advisor to Finance Minister Khurram Schehzad announced that Pakistan and the United States finalized a trade agreement on Thursday, aimed at enhancing bilateral trade, expanding market access, attracting investment, and fostering cooperation in areas of mutual interest.
Schehzad confirmed that the breakthrough came during a meeting between Pakistan’s Finance Minister, Senator Muhammad Aurangzeb, and U.S. Secretary of Commerce Howard Lutnick, along with United States Trade Representative Ambassador Jamieson Greer, in Washington, D.C.
The agreement will lead to a reduction in reciprocal tariffs, particularly on Pakistani exports to the United States. It marks the beginning of a new era in economic collaboration, focusing on sectors such as energy, mining, IT, cryptocurrency, and others.
Schehzad further highlighted that the deal complements Pakistan’s ongoing efforts to expand economic ties with the U.S. and includes partnerships at the state level. The agreement is expected to enhance Pakistan’s access to the U.S. market while also increasing U.S. investment in Pakistan’s infrastructure and development projects.
Secretary of Commerce Jawad Paul and Pakistan’s Ambassador to the United States, Rizwan Saeed Sheikh, were also present during the meeting. The agreement underscores the commitment of both countries to strengthen trade and investment ties and deepen their bilateral relationship.
