Pakistan, U.S. Near Finalizing Trade Deal
(MENAFN) Islamabad and Washington are on track to finalize a trade agreement as soon as next week, according to Pakistan's Finance Ministry.
During virtual talks on Tuesday, Pakistan’s Finance Minister Muhammad Aurangzeb and US Commerce Secretary Howard Lutnick agreed to conclude ongoing trade negotiations within the coming week, the ministry confirmed in a statement.
The partnership is expected to focus on "strategic and investment interests" and will eventually cover areas of mutual benefit.
In April, the Trump administration had imposed a 29% "reciprocal" tariff on Pakistan, a measure that was later suspended for 90 days.
On Thursday, US Secretary of State Marco Rubio held a conversation with Pakistan’s Prime Minister Shehbaz Sharif, during which they addressed regional security and trade issues.
The office of Prime Minister Sharif stated, Sharif and Rubio "agreed to continue working closely to strengthen Pakistan-US relations particularly through enhanced trade."
The United States remains the largest market for Pakistani goods, with bilateral trade valued at approximately $7.3 billion annually.
US President Donald Trump has frequently pointed to his success in brokering a ceasefire between India and Pakistan in May, facilitated by trade agreements, and has been optimistic about future trade deals with both nations.
Last week, President Trump welcomed Pakistan's army chief, Field Marshal Asim Munir, to the White House.
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