Pakistan, US hold virtual talks on expanding bilateral trade ties

KARACHI: Pakistan and the United States held virtual talks on Wednesday to discuss expanding bilateral trade and deepening economic cooperation, Pakistan’s commerce ministry said, as Islamabad seeks to build on a tariff agreement reached last year.

The discussions followed a trade arrangement between the two countries after the administration of US President Donald Trump announced “reciprocal tariffs” that had threatened higher duties on Pakistani exports.

Pakistan’s Commerce Minister Jam Kamal Khan held the virtual meeting with Rick Switzer, deputy US trade representative, with both sides reviewing opportunities to enhance bilateral trade, the ministry said in a statement.

“Pakistan is committed to strengthening its trade relationship with the United States through a balanced, forward-looking framework that benefits both economies,” Khan said.

He said that there was “significant potential” to diversify trade and expand cooperation in areas of mutual interest.

According to the ministry, discussions covered digital trade, regulatory cooperation, and continued technical-level engagement aimed at maintaining momentum toward an early conclusion of broader negotiations.

The U.S. side also acknowledged Pakistan’s role in promoting regional stability and facilitating dialogue during recent tensions following the conflict in Iran, the statement said.

“We value our engagement with Pakistan and look forward to continued collaboration to advance a balanced and mutually beneficial trade relationship,” the ministry quoted Switzer as saying.

Last year, Islamabad said it had reached a deal with Washington to ease the impact of proposed U.S. tariffs on Pakistani exports. The agreement also envisioned cooperation in sectors including energy, minerals, information technology and cryptocurrency.

Both sides agreed to maintain technical-level engagement to sustain progress toward a broader trade framework, the statement added.

Pakistan also extended an invitation for a future visit by the US side, reaffirming its commitment to strengthening bilateral economic ties.