Pakistan and the United States finalised a trade agreement on Thursday aimed at expanding bilateral trade, improving market access, attracting investment and deepening cooperation across a range of sectors, Pakistan's finance ministry said. The deal was announced after Pakistan's Finance Minister Muhammad Aurangzeb met US Secretary of Commerce Howard Lutnick and US Trade Representative Jamieson Greer in Washington. Pakistani Commerce Secretary Jawad Paul and Ambassador Rizwan Saeed Sheikh also attended the meeting. Under the accord, reciprocal tariffs will be reduced, particularly on Pakistani exports to the United States. The agreement is expected to open new opportunities for cooperation in energy, mining, information technology, cryptocurrency and other sectors, the ministry said. "The deal complements Pakistan's existing efforts of broadening the scope of Pak-US economic ties and to include partnerships at the US states level." the statement read. "From our perspective, it was always going beyond the immediate trade imperative, and its whole purpose was, and is, that trade and investment have to go hand in hand," Aurangzeb stated in video-taped remarks. The deal also seeks to encourage greater US investment in Pakistan's infrastructure and development projects. "This trade agreement underscores the commitment of both nations to deepen their bilateral relationship and explore all avenues for strengthening trade and investment ties." the ministry concluded. Attribution: Amwal Al Ghad English
