ISLAMABAD(National Times)- Deputy Prime Minister and Foreign Minister Ishaq Dar on Tuesday said the government was \u201cconfident\u201d that trade between Pakistan and the United States could double to $20 billion over the next five years.<\/p>\n\n\n\n
Dar made the remarks while addressing a delegation of US congressmen and businessmen in Islamabad. The gathering included US congressmen Ryan Zinke and Michael James Baumgartner, who are on a visit to Pakistan.<\/p>\n\n\n\n
Addressing the event, Dar called strong and mutually beneficial economic ties \u201cthe true measure of a mature strategic partnership and friendship\u201d.<\/p>\n\n\n\n
Noting that the US is Pakistan\u2019s largest single-country export destination, he said that goods trade between the two countries in the last fiscal year reached $9.4bn.<\/p>\n\n\n\n
\u201cWhile encouraging this figure \u2026 we are confident that we can double bilateral trade to $20bn over the next five years by fully harnessing the complementarity of our economies,\u201d the deputy premier said.<\/p>\n\n\n\n
He said the Pak-US partnership was \u201cmutually rewarding\u201d, as Pakistan remained among the largest importers of US cotton and was also emerging as an important market for US hydrocarbons. Similarly, he said, Pakistan\u2019s growing demand for advanced machinery, technology and capital goods presented \u201csignificant opportunity for American manufacturers\u201d.<\/p>\n\n\n\n
The minister also noted that the presence of over 80 US companies in Pakistan reflected \u201ctheir confidence in our market, our people and our long-term economic potential\u201d.<\/p>\n\n\n\n
\u201cWith an improving macroeconomic outlook, ongoing structural reforms, and competitive US tariffs, Pakistan\u2019s market is well positioned for a new wave of investment,\u201d he said.<\/p>\n\n\n\n
Dar highlighted that the government had set up the Special Investment Facilitation Council (SIFC) to provide a \u201cone-window facility\u201d to potential investors, and encouraged the delegation to continue working closely with SIFC as it was ready to help them turn opportunities into successful economic partnerships.<\/p>\n\n\n\n
He called on the delegation to meet potential partners, explore new opportunities, engage with the government and lead discussions into long-term investments that benefit both our countries.<\/p>\n\n\n\n
He expressed the government\u2019s commitment to deepening engagement with the US government, businesses, investors and entrepreneurs to expand bilateral trade and investment in areas including IT, AI, energy manufacturing, critical minerals and agriculture.<\/p>\n\n\n\n
Dar said that the government had streamlined regulatory procedures and enhanced transparency to create a more business-friendly climate for investment, as well as transforming the infrastructure and connectivity of the country.<\/p>\n\n\n\n
He added that it remained open to providing competitive incentives to facilitate greater US investment in the country, saying, \u201cOur objective is to make it easier for businesses to start, operate and expand in Pakistan.\u201d<\/p>\n\n\n\n
The deputy prime minister expressed his hope for continued support from the US\u2019 EXIM Bank, US International Development Finance Corporation, and the US Trade and Development Agency. He appreciated EXIM Bank\u2019s $1.25bn financing for the Reko Diq project and said he was \u201cconfident\u201d that it would be \u201cthe first of many such investments\u201d.<\/p>\n\n\n\n
He also stated the government\u2019s commitment to supporting the investors\u2019 long-term success in the country, adding that Pakistan\u2019s embassy and consulates in the US would also remain available for assistance and support upon their return home.<\/p>\n\n\n\n
\u201cWe greatly value our relationship with the US government and the American private sector,\u201d Dar said, noting that enhancing trade and investment linkages could create \u201cmutually beneficial opportunities for businesses in both countries, generate employment, foster innovation and deliver shared prosperity\u201d.<\/p>\n\n\n\n
He added that a strong relationship between the two countries would contribute to regional stability and international peace at a time of profound global uncertainty.<\/p>\n\n\n\n
He also expressed his gratitude to US President Donald Trump and his administration for facilitating the ceasefire between Pakistan and India after tensions flared up in May 2025.<\/p>\n\n\n\n
Similarly, Dar expressed gratitude for the \u201ctrust and confidence reposed in Pakistan\u201d to facilitate negotiations in the US-Iran conflict, which led to the signing of the Islamabad Memorandum of Understanding between the warring parties in June.<\/p>\n\n\n\n
\u201cPakistan will continue to support dialogue, diplomacy and peaceful resolution of disputes, as we firmly believe these remain the only sustainable pathways to lasting peace and stability,\u201d the deputy prime minister said.<\/p>\n\n\n\n
Meeting with US congressmen
DPM Dar also held a meeting with Zinke and Baumgartner, where the two sides discussed ways to further strengthen bilateral ties and expand cooperation in trade, investment, IT, energy, and other areas of mutual interest, the Foreign Office (FO) said.<\/p>\n\n\n\n
Welcoming the congressional delegation, the deputy premier highlighted the positive momentum in Pakistan-US relations.<\/p>\n\n\n\n
The visiting delegation acknowledged the \u201cvaluable contributions of the vibrant Pakistani diaspora to the US economy and society, recognising it as a vital bridge between Pakistan and the United States\u201d, the FO said.<\/p>\n\n\n\n
Both sides underscored the importance of sustained parliamentary exchanges in fostering mutual trust and further reinforcing the longstanding partnership between the two countries.<\/p>\n\n\n\n
They also exchanged views on regional and international developments. The congressmen appreciated Pakistan\u2019s \u201cconstructive role in promoting regional peace and stability\u201d, according to the FO.<\/p>\n\n\n\n
The two lawmakers had also met with Chief of Defence Forces (CDF) Field Marshal Asim Munir on Monday and discussed avenues for enhancing economic collaboration between the two countries.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD(National Times)- Deputy Prime Minister and Foreign Minister Ishaq Dar on Tuesday said the government was \u201cconfident\u201d that trade between Pakistan and the United States could double to $20 billion over the next five years. Dar made the remarks while addressing a delegation of US congressmen and businessmen in Islamabad. The gathering included US congressmen […]<\/p>\n","protected":false},"author":2,"featured_media":130246,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-130245","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest_news","entry"],"yoast_head":"\n