Dar sets $20bn Pakistan-US trade target, seeks fresh American investment

Pakistan is targeting a doubling of its goods trade with the United States to $20 billion over the next five years, Deputy Prime Minister and Foreign Minister Ishaq Dar said on Tuesday, as he invited American businesses to expand their footprint in the country amid what he described as an improving investment environment.

Addressing a delegation of US congressmen and businessmen in Islamabad, Dar said bilateral goods trade reached $9.4 billion during the last fiscal year, with the United States continuing to be Pakistan's largest single-country export destination. He said both economies possessed strong complementary strengths that could significantly boost commercial ties in the years ahead.

The delegation included US Congressmen Ryan Zinke and Michael James Baumgartner, who are visiting Pakistan to discuss bilateral cooperation.

Dar said Pakistan was committed to strengthening engagement with the US government, investors and private sector, identifying information technology, artificial intelligence, manufacturing, energy, agriculture and critical minerals as key areas for future collaboration. He added that the government had introduced reforms aimed at simplifying regulations, improving transparency and creating a more business-friendly investment climate while continuing to improve the country's infrastructure and connectivity.

Highlighting investment facilitation measures, the deputy prime minister pointed to the Special Investment Facilitation Council (SIFC), describing it as a one-window platform established to help foreign investors navigate projects and accelerate approvals. He encouraged the visiting delegation to engage with the council and explore long-term investment opportunities in Pakistan.

He also said the government remained prepared to offer competitive incentives to American companies seeking to establish or expand operations in the country.

According to Dar, more than 80 US companies are already operating in Pakistan, reflecting confidence in the country's economic potential. He said Pakistan remained among the largest importers of American cotton and was emerging as a growing market for US hydrocarbons, while domestic demand for advanced machinery, technology and capital equipment presented additional opportunities for American manufacturers.

The deputy prime minister welcomed continued support from US financial institutions, including the Export-Import Bank (EXIM), the US International Development Finance Corporation and the US Trade and Development Agency. Referring to EXIM Bank's $1.25 billion financing for the Reko Diq mining project, he expressed hope that the investment would pave the way for further American participation in Pakistan's economy.

He added that Pakistan's embassy and consulates across the United States would continue supporting investors interested in pursuing business opportunities in the country.

Beyond economic cooperation, Dar said stronger Pakistan-US ties would contribute to regional stability and global peace during a period of international uncertainty. He thanked US President Donald Trump and his administration for facilitating the ceasefire between Pakistan and India following heightened tensions in May 2025.

He also acknowledged what he described as the trust placed in Pakistan to facilitate negotiations during the US-Iran conflict, which resulted in the signing of the Islamabad Memorandum of Understanding in June. Reaffirming Islamabad's foreign policy approach, Dar said Pakistan would continue advocating dialogue and diplomacy as the preferred means of resolving disputes.

Separately, Dar held talks with Congressmen Zinke and Baumgartner, during which both sides reviewed the positive trajectory of Pakistan-US relations and discussed expanding cooperation in trade, investment, energy, information technology and other sectors, according to the Foreign Office.

The Foreign Office said the American lawmakers recognised the Pakistani diaspora as an important bridge between the two countries and acknowledged its contribution to the US economy and society. Both sides also emphasised the importance of continued parliamentary engagement to deepen bilateral ties and exchanged views on regional and international developments, with the visiting delegation appreciating Pakistan's role in promoting regional peace and stability.

The two congressmen also met Chief of Defence Staff Field Marshal Asim Munir on Monday, where discussions included prospects for enhancing economic collaboration between Pakistan and the United States.