By Staff Reporter
ISLAMABAD: Pakistan and the United States have voiced a shared interest in bolstering economic ties, with a focus on trade and investment, following talks between their officials in Washington, the finance ministry said on Saturday.
A delegation headed by Finance Minister Muhammad Aurangzeb met US Commerce Secretary Howard Lutnick, according to a ministry statement posted on the social media platform X. Aurangzeb was joined by Pakistan’s commerce secretary, the ambassador to the United States, and trade and economic ministers, the statement said. “Both sides expressed the desire to enhance our economic cooperation, especially in the fields of trade and investment, besides discussing the USA’s interest in investing in fields of information and communication technology, mining, minerals and energy,” it said.
Aurangzeb praised the US Chamber of Commerce for arranging the US-Pakistan Trade and Investment Forum set for March 31, which is expected to draw prominent companies and ministerial delegates from both nations. He voiced hope that Lutnick’s office would join the event, the ministry added. “Both sides reiterated their commitment to further their engagements on investments in major projects in the coming months.”
The meeting came days after the two countries inked a memorandum of understanding to establish a framework for collaboration on the Roosevelt Hotel in New York. That agreement aims to support the operation, maintenance, renovation and redevelopment of the property, which is owned by Pakistan’s national airline and has been shuttered since 2020. Pakistan views the century-old hotel in Midtown Manhattan as potentially valued at more than $1 billion, and redevelopment is part of broader efforts to restructure and privatize state assets under a $7 billion International Monetary Fund programme.
Earlier this week, Aurangzeb had indicated plans to visit the United States to push forward economic discussions, amid Pakistan’s review of its trade stance in light of recent pacts between Washington and New Delhi, as well as Bangladesh. Those developments have raised concerns within Pakistani industry circles.
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