The US has agreed to invest in Pakistan’s mineral sector, while trade talks between Islamabad and the Trump administration are ongoing in Washington, local media reported on Wednesday.
According to details, Pakistan and the US have agreed to finalize a new trade agreement with the Pakistani delegation, led by Commerce Secretary Jawad Powell.
Reports say that the US is willing to invest between $500 million and $1 billion in Pakistan’s mineral sector. Pakistan has made various proposals to increase bilateral trade volume. According to reports, the proposed Pak-US trade agreement will form the basis of a new economic partnership between the two countries.
Pakistan has also offered to further increase textile exports to the US, and has invited American investors to invest in various sectors of the country. Apart from minerals, the Trump administration has also expressed interest in Pakistan’s emerging technology industry.
Pakistan is active in protecting its trade interests in the context of changes in global trade politics.
According to the Ministry of Finance, the two countries have agreed to conclude trade talks next week after a meeting between the Treasury Secretary and US Commerce Secretary Howard Littnick.
The two sides discussed bilateral tariffs and trade balance, with the aim of finalizing an agreement that is beneficial to both.
Pakistan has offered to increase imports of US products (such as crude oil) and provide incentives to US companies in the mineral sector, following the US announcement of a potential 29% tariff on Pakistani exports, which has been postponed for 90 days.
