KARACHI: Senior Pakistani and US officials on Friday discussed next steps in economic investment and the development of a joint counterterrorism strategy in meetings aimed at deepening economic and defense ties between the two countries.
Pakistan’s commerce ministry said earlier this week it had finalized a strategy to implement a recently negotiated tariff deal with the United States that Islamabad hopes will unlock US investment.
Announced last month, the agreement set a reduced tariff rate of 19 percent on Pakistani imports — the lowest in the region — and is expected to revive bilateral trade while opening the way for US firms to participate in various Pakistani economic sectors.
In talks with US Chargé d’Affaires Natalie Baker in Islamabad, Finance Minister Muhammad Aurangzeb said Pakistan’s economy had “turned a corner” after a prolonged downturn, a shift recognized by three major international rating agencies.
“The Minister emphasized that the [trade] agreement would usher in a new era of economic collaboration — particularly in energy, mines and minerals, IT, cryptocurrency and other sectors — while expanding market access, attracting investment and fostering cooperation in areas of mutual interest,” the finance ministry said in a statement released after the meeting.
