Dar talks to US businesspeople and lawmakers

Deputy Prime Minister and Foreign Minister Ishaq Dar on Tuesday expressed confidence that Pakistan and the United States could double bilateral trade to USD 20 billion over the next five years by strengthening trade and investment ties.

 

Speaking to delegations of US lawmakers and business leaders, Dar noted that bilateral goods trade reached USD 9.4 billion in the last fiscal year but said there was significant untapped potential. He reaffirmed Pakistan's commitment to fair and reciprocal trade, highlighting opportunities for greater cooperation in IT, energy, manufacturing, agriculture, critical minerals, and defence.

 

Dar welcomed continued support from US institutions, including the US EXIM Bank, US International Development Finance Corporation (DFC), and US Trade and Development Agency (USTDA). He also praised the USD 1.25 billion financing by the US EXIM Bank for the Reko Diq project, describing it as a sign of growing confidence in Pakistan's economy.

 

He noted that Pakistan remains a major importer of US cotton and soybeans while offering expanding opportunities for American exporters of machinery, technology, and capital goods. Dar added that more than 80 US companies currently operate in Pakistan, reflecting confidence in the country's improving macroeconomic outlook and long-term investment potential.

 

The discussions also covered regional and international developments, with both sides reaffirming their commitment to strengthening economic cooperation and promoting peace and stability.