KARACHI: Pakistan’s finance ministry said on Wednesday negotiations on a proposed reciprocal trade framework with the United States had advanced significantly, with both sides reaffirming their commitment to conclude the agreement as soon as possible..
The United States is Pakistan’s largest export market, with Pakistani shipments dominated by textiles and apparel. According to the Office of the United States Trade Representative, bilateral goods trade totaled an estimated $8.7 billion in 2025, including $5.4 billion in Pakistani exports to the United States and $3.3 billion in American exports to Pakistan.
The two countries have been negotiating a reciprocal trade framework aimed at expanding bilateral trade and investment. While neither side has disclosed the proposed agreement’s detailed provisions, Pakistani officials have said they hope closer economic ties with Washington will support the country’s export-led growth strategy and attract greater US investment.
“Both sides noted that negotiations on the proposed reciprocal trade framework have advanced significantly and reaffirmed their shared commitment to concluding the agreement at the earliest,” Pakistan’s finance ministry said in a statement after a virtual meeting between Finance Minister Muhammad Aurangzeb and United States Trade Representative Jamieson Greer.
The ministry said Greer welcomed Pakistan’s continued engagement in the negotiations and appreciated progress on labor and regulatory reforms, including measures relating to forced labor compliance. It said he expressed confidence that the remaining issues could be resolved through continued technical engagement.
According to the statement, both sides agreed to maintain close coordination, accelerate technical-level discussions and continue regular engagement to finalize the remaining elements of the framework.
Aurangzeb said a stronger trade and investment partnership with the United States would contribute to Pakistan’s export-led growth strategy, strengthen economic resilience and create greater commercial opportunities for businesses in both countries.
He also emphasized the importance of continued collaboration with the US Export-Import Bank to facilitate bilateral trade and investment.
Pakistan has been seeking to deepen economic ties with the United States while attracting more foreign investment as its economy stabilizes following reforms under an International Monetary Fund support program. Last month, Deputy Prime Minister Ishaq Dar said Pakistan aimed to double bilateral trade with the United States to $20 billion over the next five years while expanding cooperation in sectors including energy, technology and critical minerals.
