Web Desk(National Times)- Hours after Pakistan and the United States reached a trade agreement on tariffs and oil reserves, Prime Minister Shehbaz Sharif thanked US President Donald Trump for his leadership in finalising a “historic” deal between the two countries. The deal was concluded in Washington late last night after intensive talks between officials from both sides. “We have just concluded a Deal with the Country of Pakistan, whereby Pakistan and the United States will work together on developing their massive Oil Reserves,” Trump wrote on social media. Taking to X, the prime minister termed the agreement \u201chistoric\u201d and said it would help deepen economic ties and strengthen the broader partnership between the two countries. “This landmark deal will enhance our growing cooperation to expand the frontiers of our enduring partnership in days to come,” he said. <\/p>\n\n\n\n
Minister of State for Finance Bilal Azhar Kayani has described Pakistan\u2019s newly concluded trade deal with the United States as a major diplomatic success and a positive step for the country’s economy. In an exclusive interview with\u00a0Geo News<\/em>, Kayani said the agreement was the outcome of sustained diplomatic engagement in recent weeks. \u201cThis deal reflects the strength of our diplomacy,\u201d he said, adding that his government worked consistently to strengthen diplomatic outreach. He confirmed that the agreement includes tariff reductions on Pakistani exports to the US \u2014 a move expected to give a significant boost to the country\u2019s trade. \u201cThis is a welcome development for our economy,\u201d Kayani added.<\/p>\n\n\n\n Finance Minister Senator Muhammad Aurangzeb told\u00a0Geo News\u00a0<\/em>that Pakistan and the United States had agreed to move trade and investment hand in hand, following a key meeting in Washington. Speaking after talks with US Commerce Secretary Howard Lutting and Trade Representative Jameson Greer, Aurangzeb described the meeting as constructive and said the two sides finalised the trade agreement during the discussion. \u201cThis deal reflects a broader economic and strategic partnership that\u2019s now taking shape,\u201d he said. The minister thanked all those involved in the negotiations, saying the private sector had played a vital role and would continue to be supported, especially in helping to reduce the trade imbalance. US total goods trade with Pakistan was an estimated $7.3 billion in 2024, according to the website of the Office of the US Trade Representative, up from around $6.9 billion in 2023. The US goods trade deficit with Pakistan was $3 billion in 2024, a 5.2% increase over 2023.<\/p>\n\n\n\n Meanwhile, DPM Dar broke the news in a late-night post on X, declaring: “Pakistan concludes deal with USA, AlhamdoLilah.” His announcement capped off what officials are calling a breakthrough moment in Pakistan\u2019s economic diplomacy. According to the statement released by the Ministry of Finance, the breakthrough came during Finance Minister Muhammad Aurangzeb’s meeting with the US Secretary of Commerce and Trade Representative. Pakistan\u2019s Ambassador to the US, Rizwan Saeed Sheikh, and Commerce Secretary Jawad Paul were also present. “The purpose of the deal is to boost bilateral trade, improve market access, attract investment, and strengthen cooperation in areas of mutual interest,” the official statement said. “Under the agreement, there will be a reduction in tariffs, particularly on Pakistani exports to the US, and a fresh start in economic cooperation between the two countries. “The two sides will focus on energy, minerals, information technology, cryptocurrency, and other key areas, the statement added. It added that the agreement would help grow Pakistan\u2019s trade ties with the US and improve access to each other\u2019s markets. “It is also expected to draw more US investment into Pakistan\u2019s infrastructure and development projects.”<\/p>\n","protected":false},"excerpt":{"rendered":" Web Desk(National Times)- Hours after Pakistan and the United States reached a trade agreement on tariffs and oil reserves, Prime Minister Shehbaz Sharif thanked US President Donald Trump for his leadership in finalising a “historic” deal between the two countries. The deal was concluded in Washington late last night after intensive talks between officials from […]<\/p>\n","protected":false},"author":2,"featured_media":109190,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-109189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","entry"],"yoast_head":"\n‘Broader partnership taking shape’<\/h2>\n\n\n\n
Dar says it’s a done deal<\/h2>\n\n\n\n