Pakistan, U.S. pledge to deepen bilateral relations

December 31, 2024 (MLN): Pakistan and the United States have reiterated their commitment to boosting economic cooperation and deepening bilateral relations, according to the press release issued today.

In a farewell meeting between Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb and His Excellency Donald Blome, Ambassador of the United States to Pakistan, both sides discussed matters of mutual interest, with a key focus on strengthening economic cooperation, trade relations, and future partnerships.

Senator Aurangzeb briefed the Ambassador on Pakistan’s economic outlook, emphasizing the government’s reform agenda aimed at achieving macroeconomic stability and ending the boom-and-bust cycle through export-led growth.

He highlighted the key sectors of the economy where reforms are being pursued to foster sustainable growth.

The Minister expressed gratitude to the United States for its invaluable support in facilitating the signing of the Stand-by Arrangement (SBA) and the subsequent Extended Fund Facility (EFF) with the International Monetary Fund (IMF).

Senator Aurangzeb also acknowledged the critical role of the US as Pakistan’s largest trading partner and a significant market for Pakistani goods and services.

The Finance Minister particularly noted the growing IT export sector, emphasizing the substantial potential for further expansion of digital exports to the US.

He highlighted the promising prospects of enhancing trade in the IT and digital services sectors, with both countries poised to benefit from closer economic ties.

Ambassador Blome expressed his appreciation for the strong and enduring relationship between the United States and Pakistan and reiterated the commitment of the US to continue supporting Pakistan’s economic reforms and growth.

The meeting concluded on a positive note, with both sides expressing their desire to further strengthen bilateral relations, especially in the areas of trade and economic collaboration.

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