Pakistan and US reaffirm commitment to finalize reciprocal trade agreement

Pakistan's Finance Minister Muhammad Aurangzeb met United States Trade Representative Jamieson Greer on Tuesday to review progress on a proposed reciprocal trade agreement between the two countries.

Both sides said negotiations had advanced significantly and reaffirmed their commitment to concluding the deal soon, Pakistan's Finance Ministry said.

What is the Pakistan-US reciprocal trade agreement?

The reciprocal trade agreement is a proposed framework between Pakistan and the United States meant to strengthen bilateral trade and economic cooperation. It covers negotiating teams from both countries working to finalize terms that both sides describe as having progressed steadily. Aurangzeb and Greer discussed the agreement's status during their Tuesday meeting.

What did Aurangzeb say about the trade talks?

Aurangzeb recalled recent discussions held in Washington and welcomed what he called the steady progress made by negotiating teams from both countries. He appreciated the constructive engagement shown throughout the dialogue, according to the Finance Ministry. He said maintaining momentum in the negotiations mattered for Pakistan's economic priorities.

A stronger trade and investment partnership with the United States would support Pakistan's export-led growth strategy, Aurangzeb said. It would also strengthen the country's economic resilience and create more commercial opportunities for businesses in both countries. He separately stressed the importance of continued collaboration with the U.S. Export-Import Bank to facilitate bilateral trade and investment.

What did Greer say in response?

Greer acknowledged Pakistan's continued engagement throughout the negotiations and welcomed progress made on labor and regulatory reforms. These included measures related to forced labor compliance, the ministry said. He reaffirmed the United States' commitment to maintaining the positive trajectory of the bilateral trade discussions.

Greer expressed confidence that the remaining issues could be resolved through continued technical engagement between the two sides. Aurangzeb, for his part, stressed the need for close coordination and accelerated technical-level talks to build on the progress achieved so far.

What happens next in the negotiations?

Both sides expressed satisfaction with the progress made and agreed to keep working closely to finalize the remaining elements of the reciprocal trade agreement. They also agreed to maintain regular engagement, with the goal of concluding the agreement soon, the ministry said.

Commerce Secretary Jawad Paul and senior members of the Office of the United States Trade Representative also attended Tuesday's meeting.