In a landmark development, Pakistan and the United States have signed a

The agreement, concluded after intense negotiations in Washington, includes plans to jointly develop Pakistan’s massive oil reserves, reduce tariffs on Pakistani exports to the US, and promote bilateral trade and investment. President Trump announced the deal on social media, stating, “We have just concluded a deal with the country of Pakistan… to develop their massive oil reserves.”

PM Shehbaz echoed the sentiment on X, stating that the agreement “will expand the frontiers of our enduring partnership.”

Minister of State for Finance Bilal Azhar Kayani hailed the deal as a major diplomatic achievement, crediting sustained efforts by Pakistani diplomats. He confirmed tariff reductions that are expected to significantly benefit Pakistani exporters.

Finance Minister Muhammad Aurangzeb, after meeting with US Commerce Secretary Howard Lutting and Trade Representative Jameson Greer, emphasized that the agreement reflects a broader economic and strategic alignment. Aurangzeb noted that both countries aim to advance in areas such as energy, IT, cryptocurrency, and mineral development.

Deputy Prime Minister Ishaq Dar also confirmed the deal, describing it on X as a “done deal.” A joint statement from the Ministry of Finance highlighted mutual commitments to boost market access, attract investment, and improve cooperation across high-growth sectors.

In 2024, total US-Pakistan goods trade stood at $7.3 billion, with a US trade deficit of $3 billion — now expected to narrow under this fresh cooperation.

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