Pakistan, US seal tariff deal to boost trade ties

October 14, 2025 (MLN): Pakistan has successfully concluded negotiations with the United States, resulting in a new tariff deal aimed at enhancing bilateral trade and investment opportunities.

The agreement was welcomed by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb during his visit to Washington D.C. for the annual meetings of the International Monetary Fund (IMF) and the World Bank (WB).

In a meeting with Assistant US Treasury Secretary for International Finance Robert Kaproth and Counselor Jonathan Greenstein, the Finance Minister highlighted Pakistan’s strong economic fundamentals and ongoing structural reforms under the IMF programme.

He also briefed the US officials about recent legislation to regulate virtual assets in Pakistan and invited American investors to explore opportunities in the country’s oil & gas, mineral, agriculture, and IT sectors.

Later, during an interactive session with the US-Pakistan Business Council, the Finance Minister outlined improvements in Pakistan’s macroeconomic indicators, emphasizing that the private sector must lead the country’s growth trajectory.

He reaffirmed the government’s commitment to addressing challenges faced by businesses and providing maximum support to promote investment.

Aurangzeb stressed the significance of the newly negotiated trade deal with the US authorities, expressing optimism for enhanced government-to-government (G2G) and business-to-business (B2B) engagement, particularly in priority sectors such as minerals, agriculture, IT, and pharmaceuticals.

On the sidelines of his Washington engagements, the Finance Minister also met representatives from Citi Bank.

He appreciated the bank’s long-standing partnership with Pakistan and its continued engagement in the country’s financial sector.

The meeting focused on Pakistan’s stabilizing macroeconomic environment, digital innovation, and financial inclusion initiatives.

The Minister assured that the government would review Citi’s proposals aimed at expanding financial services in Pakistan.

Earlier in the day, Senator Aurangzeb met with Mr. Riccardo Puliti, Regional Vice President of the International Finance Corporation (IFC) for the Middle East, Central Asia, Türkiye, Afghanistan, and Pakistan.

Both sides reviewed IFC’s multi-billion-dollar investment portfolio under the 10-year Country Partnership Framework (CPF), including the flagship Reko Diq project.

The Minister welcomed IFC’s decision to establish its new regional office in Islamabad, terming it a strong signal of investor confidence.

The Finance Minister also held a productive discussion with Dr. Muhammad Sulaiman Al-Jasser, President of the Islamic Development Bank (IsDB).

The meeting reviewed ongoing projects and reaffirmed IsDB’s continued support for Pakistan, including financing for two sections of the M-6 motorway, polio eradication efforts, and the oil financing facility.

Both sides agreed to develop a new Country Engagement Framework (CEF) to further strengthen future cooperation.

Aurangzeb expressed gratitude to the IsDB and IFC for their partnership and reaffirmed the government’s focus on accelerating economic reforms, attracting foreign investment, and ensuring sustainable growth through enhanced global collaboration.

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