ISLAMABAD, June 17 (Alliance News): Pakistan and the United States have agreed to fast-track their trade negotiations through constructive engagement, aiming to finalize a bilateral trade deal soon, according to an official statement released on Tuesday.
Finance Minister Muhammad Aurangzeb held a virtual meeting on Monday night (June 16) with US Commerce Secretary Howard Lutnick to discuss trade issues, including the suspension of reciprocal tariffs imposed by the United States in April.
The meeting, held at 2100 hours (PST), focused on deepening economic cooperation, with both sides committing to a roadmap for detailed technical-level discussions.
At a public event in Islamabad on Tuesday, Finance Minister Aurangzeb described the dialogue as “constructive and positive,” affirming that Pakistan and the US are moving in the right direction to strengthen their strategic partnership.
He expressed confidence that the negotiations would reach a successful conclusion soon.
The talks follow Washington’s announcement of reciprocal tariffs earlier this year, citing a $3 billion trade surplus in Pakistan’s favor.
The US had proposed tariffs of up to 29% on Pakistani exports, but suspended the measure for 90 days to allow time for dialogue.
Formal negotiations between the two countries began with a telephonic conversation between Finance Minister Aurangzeb and US Trade Representative Ambassador Jamieson Greer on May 30.
In a significant gesture, Pakistan proposed a zero-tariff bilateral trade agreement with the United States in early May.
Commerce Minister Jam Kamal told Reuters that Pakistan is ready to provide investment incentives to American firms, particularly in the mineral-rich province of Balochistan, through joint ventures with local partners. These incentives include lease grants and streamlined investment facilitation.
Pakistan also offered to boost imports from the US, especially in key commodities such as cotton and edible oils, which are in short supply domestically.
These developments come amid a broader diplomatic thaw, with US President Donald Trump recently stating that Washington is working on “big deals” with both Pakistan and India. His comments followed the US-brokered ceasefire between the two nuclear-armed neighbors after the worst military tensions in years.
