ISLAMABAD: Pakistan and the United States are set to further refine their trade and investment agreements, with Islamabad expecting a significant boost in exports to the US in the coming months.
In return, Washington is seeking reciprocal incentives, particularly in Pakistan’s mines and minerals sector, and multiple options are being considered to move forward, senior officials told this correspondent on Friday.
Finance Minister Muhammad Aurangzeb confirmed that both sides were working on fine-tuning the agreement, expressing optimism that Pakistan’s exports would see an upward trajectory soon. According to officials, over 90 percent of the modalities have already been finalized, though discussions continue on how Pakistan will extend incentives to encourage US investment in mining and related projects.
Pakistan is also set to import petroleum products from the US. While this will push up domestic prices due to higher logistics costs, the impact is expected to remain limited since US supplies will constitute only about 10 percent of overall POL imports.
Last week, Commerce Minister Jam Kamal and Special Assistant to the PM on Industries Haroon Akhtar Khan met with exporters to seek input on US tariffs.
Meanwhile, the Finance Division reported that US chargé d’affaires Natalie Baker called on Finance Minister Aurangzeb in Islamabad. Discussions centered on expanding bilateral trade, enhancing US investment in Pakistan, and exploring new avenues of economic cooperation. Aurangzeb said Pakistan’s economy had “turned the corner,” citing Moody’s recent upgrade that aligned with ratings from all three major international agencies as proof of the government’s difficult but necessary reforms.
The minister recalled his recent visit to Washington, D.C., where he held talks with senior US officials, including Howard Lutnick and US Trade Representative Ambassador Jamieson Greer, to finalize the trade agreement. He said the deal would open new opportunities for collaboration in energy, mining, IT, cryptocurrency, and other sectors while improving market access, attracting investment, and accelerating infrastructure and digital development projects.
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Baker described the agreement as a major opportunity for both countries, noting the strong interest of US companies in Pakistan’s supply chain, production, energy, critical minerals, mining, and oil exploration sectors. Both sides reaffirmed their commitment to advancing these initiatives to ensure mutually beneficial outcomes.
Separately, Interior Minister Mohsin Naqvi met with US Coordinator for Counterterrorism Gregory LoGerfo at the Interior Ministry. Minister of State for Interior Talal Chaudhry, Acting US Ambassador Natalie Baker, and senior officials were also present.
LoGerfo congratulated Pakistan on its 79th Independence Day and stressed stronger cooperation in counterterrorism, border security, and counter-narcotics. Both sides agreed to enhance intelligence sharing in these areas.
Naqvi said Pakistan-US relations had improved significantly under President Donald Trump’s administration, praising Trump’s efforts for global peace and emphasizing transparency, mutual trust, and cooperation as defining features of the partnership. He also welcomed Washington’s decision to designate the banned BLA and Majeed Brigade as foreign terrorist organizations, terming it a commendable step that would aid joint counterterrorism efforts.
LoGerfo acknowledged Pakistan’s geostrategic importance and expressed condolences over the loss of lives in recent terrorist attacks.