By Staff Reporter
ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb has hailed investment as a potential “game-changer” for economic relations with the United States, signaling a strategic pivot beyond immediate trade concerns as the two nations push to finalise a critical tariff agreement.
The remarks came Friday after Aurangzeb met with US Secretary of Commerce Howard Lutnick and Trade Representative Ambassador Jamieson Greer in Washington, part of ongoing trade talks aimed at securing tariff relief and deepening bilateral economic cooperation.
Pakistan is racing to avoid a 29% tariff on its exports, primarily textiles and agricultural products, amid US President Donald Trump’s drive for reciprocal trade deals.
In a video statement flanked by Pakistan’s Ambassador to the US Rizwan Saeed Sheikh and Commerce Secretary Jawad Paul, Aurangzeb emphasised a broader vision. “One thing we discussed was that we have to move beyond the immediate trade imperative, which is obviously very critical, but besides that, for the Pakistan-US relationship to be brought to the next level and bring in a real step change, [there is] an investment imperative that will hopefully emerge,” he said.
Aurangzeb pinpointed minerals and mining, artificial intelligence, digital infrastructure, and cryptocurrency as key areas for investment. “Areas have already been identified,” he said. “We feel this will be a real game-changer, God-willing, in terms of the economic relationship between Pakistan and the United States.”
The minister underscored a mutual commitment to shift gears quickly. “Both sides committed to begin their talks with trade and follow them through very quickly with investment discussions between the two countries and real execution of the investment upside that is available, so that it becomes a win-win,” he said.
Aurangzeb described the dialogue as “very constructive,” noting that “positive progress over the last few weeks and months was reviewed” while both sides agreed to “get closure” on outstanding issues.
The US is Pakistan’s largest trading partner and its biggest export market, with textiles and agricultural goods driving the relationship. Pakistan is also the second-largest buyer of US cotton in South Asia after China. A long-term reciprocal tariff agreement is critical to prevent tariff re-imposition, especially as Trump has set an extended August 1 deadline for trade deals, with a further cutoff of August 15 for “concrete deliverables.”
The talks follow an initial understanding reached earlier this month, though a formal announcement awaits the US wrapping up parallel negotiations with other trade partners. Islamabad had hoped to seal the deal by early July, but progress has lagged. Pakistan has offered to boost imports of American cotton and soybeans while pressing to reduce tariff and non-tariff barriers, part of a detailed list of US demands previously outlined to a Pakistani delegation.
Aurangzeb struck an optimistic note. “In the next few days, we hope that the coming leadership-level announcements will reflect all the hard work and efforts that have been put in both by Pakistan and the US side,” he said.
Behind the scenes, US-based businessmen with stakes in cryptocurrency and rare earth minerals are quietly backing Pakistan’s push for greater market access. In April, the Pakistan Crypto Council partnered with World Liberty Financial, a decentralized finance platform supported by Trump, while a US delegation earlier that month flagged Washington’s strategic interest in Pakistan’s mineral sector.
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