ISLAMABAD, July 31 (Alliance News): In a major diplomatic and economic breakthrough, Pakistan and the United States have finalized a landmark trade agreement aimed at boosting bilateral trade, expanding market access, attracting investment, and enhancing cooperation in sectors of mutual interest.
The agreement was concluded during a high-level meeting in Washington, D.C., between Federal Finance Minister Senator Muhammad Aurangzeb, U.S. Secretary of Commerce Howard Lutnick, and U.S. Trade Representative Ambassador Jamieson Greer.
Also present were Commerce Secretary Jawad Paul and Pakistan’s Ambassador to the U.S., Rizwan Saeed Sheikh, according to a press release from Pakistan’s Ministry of Finance.
Former U.S. President Donald Trump formally announced the agreement in a post on Truth Social, signaling a new phase of economic diplomacy and strategic partnership between the two countries.
The agreement includes significant reciprocal tariff reductions, particularly benefiting Pakistani exports to the United States, and opens doors for enhanced trade in energy, mining, information technology, digital infrastructure, and cryptocurrency sectors. It also sets the stage for greater U.S. investment in Pakistani infrastructure and development projects.
“This is a real win-win situation for both Pakistan and the United States,” stated Finance Minister Aurangzeb. He noted that the negotiations resolved several critical issues, including tariffs, non-tariff barriers, and the long-standing trade imbalance.
Aurangzeb emphasized the instrumental role of Pakistan’s private sector, highlighting how business leaders contributed toward correcting trade disparities. “This has truly been a team effort,” he said, crediting Pakistan’s leadership, the Ministry of Commerce, and the embassy team led by Ambassador Rizwan Sheikh for making the agreement possible.
The agreement is viewed as a strategic pivot in Pakistan–US relations, moving beyond traditional trade to forge deep economic integration, especially at the state-level partnerships within the U.S.
“This agreement represents the emergence of a broader economic, bilateral, and strategic partnership,” Aurangzeb remarked, expressing confidence in the deal’s ability to propel bilateral ties to new heights.
He added, “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 agreement is expected to unlock billions in trade and investment flows, particularly benefiting Pakistan’s export sectors such as textiles, pharmaceuticals, IT services, and mineral resources.
