Pakistan, US discuss trade, investment

DFC participation, reciprocal trade framework among key topics

ISLAMABAD:

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb met US Chargé d'Affaires Natalie Baker on Monday to discuss bilateral economic relations and opportunities for strengthening financial cooperation, a statement from the Finance Division said.

Aurangzeb briefed Baker on his recent visit to Washington, where he held discussions with the US Treasury secretary, senior management of the International Monetary Fund, the US International Development Finance Corporation and the US Export-Import Bank.

He also shared an update on engagement with the Office of the US Trade Representative regarding a reciprocal trade framework, noting considerable progress in discussions and emphasising Pakistan's interest in enhanced market access, greater export opportunities and increased bilateral trade.

The minister 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.

Discussions also covered opportunities for greater participation of US financial institutions, including DFC, in Pakistan's investment landscape. Aurangzeb emphasised identifying investment-ready projects and developing appropriate financing structures.

Both sides exchanged views on ports and logistics, energy, telecommunications, digital technology and artificial intelligence. The minister highlighted government efforts to create an enabling environment for private-sector investment and welcomed growing interest among US companies in Pakistan.

Baker appreciated Pakistan's efforts in navigating the recent regional conflict and its economic implications, particularly rising energy prices, while maintaining economic and financial stability.