Pakistan and the United States have decided to conclude the commercial conversations centered on reciprocal rates next week after a virtual meeting between the Minister of Finance, Muhammad Aurengzeb, and the United States Secretary of Commerce, Howard Lutnick.
Negotiations are part of a broader impulse to restore economic ties at the time of changing geopolitical alignments and Pakistan’s efforts to avoid the steep duties of the United States on exports.
“Both parties showed satisfaction in the ongoing negotiations and resolved to conclude trade negotiations next week,” said the Ministry of Finance in a statement, added that a longer -term strategic and investment association is also under discussion.
“The discussion focused on the significant participation in trade, investment and deepening of mutually beneficial economic ties for both parties, with discussions related to the technical level that will be completed next week,” he added.
Pakistan faces a 29 percent tariff on exports to the United States under the measures of President Donald Trump to attack countries with large commercial surpluses with the United States. Pakistan’s surplus was around $ 3 billion in 2024.
To compensate for the imbalance and facilitate tariff pressures, Islamabad has offered to import more American assets, including crude oil, and open investment opportunities through concessions for US companies in the Pakistan mining sector.
Earlier this week, the two countries were co-elans of a web seminar that promotes investment in the Mineral sector of Pakistan, including the Reko Diq copper project of $ 7 billion.
High officials of American governments and investors discussed public-private associations and regulatory reforms. The US Export-Import Bank is reviewing value proposals worth $ 500 mn at $ 1 billion in Reko diq.
