ISLAMABAD, Aug 05 (Alliance News): Pakistan and the United States on Wednesday acknowledged significant progress in negotiations on a proposed reciprocal trade framework and agreed to continue close engagement to finalize the agreement at the earliest.
The understanding was reached during a virtual meeting between Finance Minister Muhammad Aurangzeb and Jamieson Greer, who reviewed ongoing negotiations aimed at strengthening bilateral trade and economic cooperation.
According to the Ministry of Finance, both sides expressed satisfaction with the progress achieved by their respective negotiating teams and reaffirmed their commitment to concluding the reciprocal trade framework through continued technical engagement.
During the meeting, Aurangzeb welcomed the steady advancement in negotiations and stressed the importance of maintaining momentum in line with Pakistan’s economic priorities.
He said a stronger trade and investment partnership with the United States would support Pakistan’s export-led growth strategy, enhance economic resilience and create greater commercial opportunities for businesses in both countries.
The finance minister also highlighted the importance of continued cooperation with the Export-Import Bank of the United States (EXIM Bank) to facilitate bilateral trade and investment.
Ambassador Greer appreciated Pakistan’s constructive engagement throughout the negotiations and acknowledged the progress made on labour and regulatory reforms, including measures related to forced labour compliance.
He reaffirmed Washington’s commitment to advancing bilateral trade talks and expressed confidence that the remaining issues could be resolved through continued technical discussions.
Both sides agreed to maintain close coordination and regular engagement to finalize the outstanding elements of the reciprocal trade framework.
Pakistan and the United States had reached a trade understanding in July last year ahead of tariff measures announced by US President Donald Trump. Following negotiations with the **Office of the United States Trade Representative> (USTR), the proposed reciprocal tariff on Pakistani exports was reduced from 29% to 19%.
The meeting was also attended by Federal Secretary for Commerce Jawad Paul and senior officials of the Office of the United States Trade Representative.
