Pakistan, US move closer to reciprocal trade framework as negotiations gain momentum

ISLAMABAD: Minister for Finance and Revenue Muhammad Aurangzeb met with United States Trade Representative (USTR) Ambassador Jamieson Greer to review progress in ongoing negotiations to strengthen bilateral trade and economic cooperation, according to a Wednesday press release from the Pakistan Information Department.

The meeting focused on advancing discussions on a proposed reciprocal trade framework and enhancing long-term economic engagement between the two countries, the statement read.

Recalling their recent discussions in Washington, Aurangzeb welcomed the steady progress made by negotiating teams from both sides and appreciated the constructive engagement throughout the dialogue.

The finance minister stressed the importance of maintaining the momentum of negotiations 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.

He underscored the importance of continued collaboration with the US Export-Import Bank to facilitate bilateral trade and investment.

The finance minister also emphasized the need for close coordination and accelerated technical-level discussions to build on the progress already achieved.

US appreciates reform efforts

Ambassador Greer acknowledged Pakistan’s continued engagement during the negotiations and appreciated the progress made on labor and regulatory reforms, including measures related to forced labor compliance.

He reaffirmed the United States’ commitment to maintaining the positive momentum in bilateral trade talks and expressed confidence that the remaining issues could be resolved through continued technical engagement.

Both sides expressed satisfaction with the pace of negotiations and agreed to continue work closely to finalize the remaining elements of the reciprocal trade framework.

They also agreed to maintain regular engagement with the aim of concluding the agreement soon, further strengthening the longstanding economic partnership between Pakistan and the United States.