ISLAMABAD – The government of Pakistan is working to strengthen its trade ties with United States by seeking to increase imports of American goods like cotton and soybeans, while also addressing non-tariff barriers that could improve trade flows between Islamabad ad Washington.
The development was confirmed by Finance Minister Aurangzeb who is in US for spring meetings with top lenders. Aurnagzeb told US publication about economic challenges posed by President Donald Trump’s tariffs.
He said the government is pondering to buy more agricultural products from US, including cotton and soybeans as he sheds light on importance of addressing non-tariff trade barriers, specifically inspecting procedures, to facilitate entry of more American products into Pakistan’s markets.
In bid to mitigate impact of 29pc reciprocal tariffs imposed by President Trump, which are currently suspended until July, Shehbaz Sharif led government plans to send high-level trade delegation to Washington. While these tariffs are temporarily on hold, Pakistan is hoping for permanent relief.
Finance Minister said Pakistan is open to foreign direct investment, particularly from US firms, in sectors like mining and minerals, which have recently been opened for investment. He emphasized that Pakistan aims to secure more funding from international capital markets to support sustainable economic growth and avoid the boom-and-bust cycles that have historically affected the country’s economy.
In his meeting in US, Aurangzeb reassured International Monetary Fund (IMF) that Pakistan remains committed to continuing its economic reforms. During the IMF-World Bank Spring Meetings 2025, the finance minister met with IMF Managing Director Kristalina Georgieva and reaffirmed Pakistan’s reform agenda.
As Pakistan works to strengthen its economic ties with the US, the country faces a crucial period of diplomacy and reform to secure a sustainable future for its economy.
https://pakobserver.net/pakistan-sets-sights-on-new-export-opportunities-after-surge-in-us-tariff/?id=1
