ISLAMABAD: In a landmark development, Pakistan and the United States have finalized a trade agreement aimed at boosting bilateral trade, expanding market access, attracting investment, and fostering cooperation in areas of mutual interest.
The breakthrough was reached during a meeting of Federal Minister for Finance Minister, Senator Muhammad Aurangzeb, with U.S. Secretary of Commerce, Howard Lutnick and United States Trade Representative Ambassador Jamieson Greer in Washington, D.C.
Secretary Commerce Jawad Paul and Pak Ambassador to the United States Ambassador Rizwan Saeed Sheikh were also present during the meeting, said a press release issued by finance ministry here adding President Trump announced the trade deal via a post on Truth Social.
The agreement will result in reduction of reciprocal tariff especially on Pakistani exports to the United States, it added.
This deal marks the beginning of a new era of economic collaboration especially in energy, mines and mineral, IT, cryptocurrency and other sectors.
The deal complements Pakistan’s existing efforts of broadening the scope of Pak-US economic ties and to include partnerships at the U.S. states level.
The agreement enhances Pakistan’s access to the U.S. market and vice versa. Additionally, the deal is expected to spur increased U.S. investment in Pakistan’s infrastructure and development projects.
This trade agreement underscores the commitment of both nations to deepen their bilateral relationship and explore all avenues for strengthening trade and investment ties.
“Trade and investment have to go hand in hand, and today we see the emergence of a broader economic, bilateral, and strategic partnership,” said Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb while commenting on the successful conclusion of a comprehensive trade agreement between Pakistan and the United States.
The negotiations, which addressed key concerns including tariffs, non-tariff barriers, and trade imbalances, were hailed as a joint success by both sides. Aurangzeb emphasized the critical role played by Pakistan’s private sector, noting that business leaders were among the first to step up and offer support in correcting trade disparities.
“This has truly been a team effort,” he said, thanking the leadership of Pakistan, fellow Cabinet members, the Commerce Secretary and his team, and the embassy staff led by Ambassador Usman Sheikh. “No single individual could have delivered and taken us through the finishing line.”
The agreement sets the stage for increased cooperation in sectors including energy, minerals and mining, IT, and digital infrastructure—pillars of what Aurangzeb termed “the new economy.”
“President Trump’s message is clear: this is going to be a real win-win situation for both Pakistan and the United States,” the Finance Minister affirmed.
Reflecting on the progress made ahead of August 1, Aurangzeb said: “Alhamdulillah, we are in a good place today. We have come a long way in strengthening our strategic partnership, and I believe it will continue to grow from strength to strength.”
The trade deal is expected to unlock new avenues of economic collaboration, marking a significant shift in bilateral relations between the two nations.
