Aurangzeb, Baker discuss stronger Pak-US economic ties

Federal Minister for Finance Muhammad Aurangzeb met US Chargé d’Affaires Natalie Baker on Monday to discuss ways to strengthen Pakistan-US economic relations, trade and investment cooperation.

According to the Finance Ministry, Aurangzeb briefed the US diplomat on his recent visit to Washington and meetings with senior American officials, including the US Treasury secretary. He also shared details of discussions with officials from the International Monetary Fund (IMF), US International Development Finance Corporation (DFC) and US Export-Import Bank.

The meeting focused on increasing US investment and financing for commercially viable projects in Pakistan. Both sides also discussed improving Pakistan’s access to US markets and expanding Pakistani exports.

The two sides agreed to advance a framework aimed at increasing bilateral trade and investment. They also discussed Pakistan’s participation in international capital markets and efforts to diversify the country’s sources of financing.

According to the ministry, discussions also covered measures to strengthen foreign exchange reserves and improve Pakistan’s credit profile. Opportunities for greater investment by US financial institutions in Pakistan were reviewed.

Cooperation in key sectors, including ports, logistics, energy and telecommunications, also came under discussion. The two sides explored potential collaboration in digital technology and artificial intelligence.

Aurangzeb said significant progress had been made in negotiations on a bilateral trade framework between Pakistan and the United States. He said the government was working to create a more favourable environment for private-sector investment.

The finance minister welcomed the interest of US companies and investors in Pakistan. He said the government was continuing reforms aimed at improving the business and investment climate.

Aurangzeb also briefed the US chargé d’affaires on Pakistan’s new system for daily adjustments in petroleum product prices. He explained that the mechanism was designed to align domestic prices more closely with developments in the international market.

He said the government’s priorities included maintaining fiscal discipline, strengthening foreign exchange reserves and increasing exports. He added that reforms were underway to improve economic stability and attract investment.

Natalie Baker appreciated Pakistan’s efforts to manage its economic situation during a period of regional tensions. She also praised the country for maintaining economic and financial stability despite rising energy prices.