Pakistan Welcomes New Trade Deal with the United States
Pakistan’s top business group, the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), has praised a new trade agreement between Pakistan and the United States. This deal will reduce tariffs and help grow trade and investment between the two countries.
Atif Ikram Sheikh, President of FPCCI, said in a statement,
“The trade deal with the US is a great step forward. It will strengthen trade and investment between both countries.”
The agreement includes two main points:
Lower tariffs on Pakistani products entering the US
Joint work on developing Pakistan’s oil reserves
Former US President Donald Trump also shared the news on social media, saying,
“We just signed a deal with Pakistan to work together on their massive oil reserves. We are now selecting the oil company to lead this partnership.”
Although Trump didn’t share more details, Pakistani officials confirmed the news.
Finance Minister of Pakistan, Muhammad Aurangzeb, called the trade deal a “win-win situation” for both countries. He said it shows how much the relationship between Pakistan and the US has improved in recent months.
Earlier this year, the US had planned to place a 29% tariff on Pakistani exports. However, those tariffs were paused for 90 days to allow time for talks. Thanks to those talks, the new agreement was reached.
In 2024, total trade between the US and Pakistan was about $7.3 billion, up from $6.9 billion in 2023. However, the US had a trade deficit of $3 billion with Pakistan.
Sheikh said,
“The US is Pakistan’s biggest trading partner. This new agreement will help increase Pakistan’s exports by lowering tariffs and giving better access to the US market.”
He also said the deal marks the start of a new era of economic cooperation in key areas like energy and trade. FPCCI promised full support to the government’s plans for national growth and development.
