WASHINGTON: Pakistan is looking for positive development in trade talks with Washington as the Finance Minister Aurangzeb arrived in the United States on a crucial visit aimed at finalizing a long-awaited bilateral trade agreement.
The reports of the US Media have stated that a significant progress is expected in the ongoing negotiations, which come ahead of an August deadline set for concluding the deal.
During his visit to Washington, Finance Minister Aurangzeb is holding high-level discussions with senior US officials to address key points of contention, particularly tariff and non-tariff barriers. US authorities have reportedly urged Pakistan to make substantial reductions in these areas to pave the way for the agreement.
Pakistan Finance Ministry officials revealed that a significant breakthrough is anticipated soon, and a formal statement from Washington may be issued in the coming days to reflect the progress made.
While in the US, Finance Minister Aurangzeb held meetings with his US counterpart and the United States Trade Representative, reaffirming Pakistan’s commitment to fostering strong, inclusive trade and investment relations between the two countries.
All parties expressed optimism about achieving positive progress in the ongoing Pakistan-US Trade Dialogue.
According to a Bloomberg report, the United States earlier provided Pakistan with a detailed list of prerequisites that must be met for the trade deal to proceed. These included commitments to reduce import tariffs, resolve market access issues, and expand bilateral trade flows.
Despite a slower-than-expected pace of negotiations, Bloomberg maintains that Pakistan is trying to appease the US to get relief from the mutually imposed tariffs. The finance minister is said to be optimistic about reaching a mutually beneficial agreement.
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