FinMin notes 'considerable progress' on Pak–US trade framework in meeting with Cd'A Baker

Stresses Pakistan's interest in taking framework forward on mutually beneficial basis

Finance Minister Muhammad Aurangzeb on Monday said Pakistan had made considerable progress in discussions with the Office of the United States Trade Representative (USTR) on a Pakistan-US reciprocal trade framework.

He made the remarks during a meeting with US Chargé d’Affaires to Pakistan Natalie Baker at the Finance Division, where the two sides discussed bilateral economic relations and opportunities to strengthen economic cooperation, according to a statement issued by the Ministry of Finance.

“The finance minister noted the considerable progress made in the discussions and emphasised Pakistan’s interest in taking the framework forward on a mutually beneficial basis, including through enhanced market access, greater export opportunities and increased bilateral trade,” the ministry said.

Aurangzeb also briefed Natalie on his recent visit to Washington, where he held meetings with the US Treasury secretary, senior officials of the International Monetary Fund (IMF), the US International Development Finance Corporation (DFC) and the US Export-Import Bank (EXIM).

“Aurangzeb highlighted the constructive engagement with US institutions and discussed opportunities to further strengthen financial cooperation, investment and financing for commercially viable projects in Pakistan,” the statement said.

U.S. Chargé d’Affaires Calls on Finance Minister, Discusses Bilateral Economic Cooperation and Investment

Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, today met with U.S. Chargé d’Affaires to Pakistan, H.E. Ms. Natalie Baker, at the Finance Division to… pic.twitter.com/Gwr5BssSd2

— Ministry of Finance, Government of Pakistan (@Financegovpk) August 10, 2026

The finance minister also briefed the US chargé d'affaires on Pakistan's engagement with international capital markets and its efforts to diversify financing sources.

“He highlighted the government’s focus on improving foreign exchange reserves, strengthening the sovereign credit profile and accessing longer-term financing instruments to support economic stability and sustainable economic growth,” the ministry said.

The two sides also discussed opportunities for greater participation by US financial institutions, including the DFC, in Pakistan's investment landscape.

Aurangzeb stressed the importance of identifying specific, investment-ready projects and developing suitable financing structures to facilitate greater participation by US companies and financial institutions.

“The two sides also exchanged views on ports and logistics, energy, telecommunications, digital technology, artificial intelligence and other emerging sectors,” the statement said.

The finance minister highlighted the government's efforts to create an enabling environment for private-sector investment and welcomed growing interest from US companies and investors in Pakistan.

Aurangzeb also briefed Natalie on measures to manage the evolving economic situation, including the recent introduction of a daily price revision mechanism for petroleum products aimed at bringing domestic prices more closely in line with international market conditions.

Read More: Pakistan, US make progress on reciprocal trade framework: finance ministry

He reiterated the government's focus on fiscal discipline, strengthening foreign exchange reserves, promoting exports and sustaining economic growth.

The finance minister also acknowledged the constructive role of US partners and reiterated Pakistan's commitment to facilitating investment and improving the business environment.

He stressed the government's focus on structural reforms, export-led growth and strengthening institutional frameworks.

According to the ministry, Natalie appreciated Pakistan's efforts to navigate the recent regional conflict and its economic implications, particularly rising energy prices, while maintaining economic and financial stability.

“Natalie reaffirmed US support for Pakistan’s economic reform agenda and appreciated the government’s efforts to stabilise the economy amid challenging circumstances. She expressed continued US interest in strengthening bilateral trade, investment and economic cooperation, particularly through greater participation of US companies in key sectors of the Pakistani economy,” the ministry said.

The negotiations on the Pakistan-United States Agreement on Reciprocal Trade were held on July 9 and 10 in Washington. The negotiations focused on strengthening bilateral trade, facilitating greater commercial cooperation and expanding existing trade between the two countries.

Also Read: Pakistan, US trade talks advance: FO

Islamabad and Washington seek to deepen economic engagement through trade, investment and commercial partnerships. The US remains Pakistan's largest single-country export destination, while both countries have recently expanded cooperation in areas including investment promotion and critical minerals.

According to the Office of the US Trade Representative, total US goods and services trade with Pakistan was estimated at $10.1 billion in 2024. US goods trade reached $8.7 billion in 2025, with US exports to Pakistan rising to $3.3 billion and imports from Pakistan increasing to $5.4 billion.

Business leaders have welcomed the progress in the negotiations, saying a reciprocal trade agreement could improve Pakistani exporters' access to the US market.

Arangzeb said last week that Pakistan and the US had made "significant" progress in negotiations on the reciprocal trade framework and were aiming to agree "at the earliest".