Federal Finance Minister Senator Muhammad Aurangzeb recently held a virtual meeting with US Trade Representative Ambassador Jamieson Greer to assess developments in ongoing negotiations aimed at enhancing trade and economic cooperation between Pakistan and the United States. The discussions also included continued collaboration with the US Export-Import Bank (EXIM) to support bilateral trade and investment.
Reflecting on earlier talks in Washington, D.C., Aurangzeb welcomed the steady progress made by both negotiating teams and praised the constructive nature of the dialogue. Both parties acknowledged significant advancements in the proposed reciprocal trade framework and reiterated their commitment to finalizing the agreement promptly.
In a notable development last month, Pakistan formally requested a $10 billion exchange stabilization facility from the US, following its diplomatic efforts in mediating talks related to the Iran conflict. This request, made during a meeting with US Treasury Secretary Scott Bessent on July 22, seeks a bilateral facility with a maturity of up to five years. If approved, it would strengthen Pakistan’s foreign reserves, ease pressure on the rupee, and reduce dependence on multilateral lenders amid ongoing fiscal and monetary reforms under the IMF program. The US Treasury has not commented on the request, and no updates have been provided since.
Meanwhile, Aurangzeb emphasized the need to maintain momentum in the trade discussions, highlighting Pakistan’s economic priorities. He noted that a robust trade and investment partnership with the US would underpin Pakistan’s export-led growth strategy, enhance economic resilience, and create expanded commercial opportunities for businesses in both countries. He also reiterated the significance of ongoing engagement with EXIM Bank to facilitate bilateral trade and investment flows.
Ambassador Greer acknowledged Pakistan’s active participation throughout the negotiations and commended progress on labor and regulatory reforms, including steps addressing forced labor compliance. He reaffirmed Washington’s dedication to sustaining momentum in the bilateral trade talks and expressed confidence that outstanding issues could be resolved through continued technical-level engagement.
Aurangzeb stressed the importance of close coordination and expedited technical discussions to build on the progress achieved so far. Both sides expressed satisfaction with the advancements and agreed to maintain regular engagement to finalize the remaining components of the trade framework. This would further strengthen the longstanding economic partnership between the two nations.
The meeting also included Federal Commerce Secretary Jawad Paul and senior officials from the Office of the US Trade Representative, underscoring the high-level commitment on both sides to advancing the trade agenda.
