Dar targets $20bn Pakistan-US trade

Deputy Prime Minister and Foreign Minister Ishaq Dar has expressed confidence that Pakistan and the United

Deputy Prime Minister and Foreign Minister Ishaq Dar has expressed confidence that Pakistan and the United States can increase bilateral trade in goods to $20 billion within the next five years.

Dar said Pakistan’s trade in goods with the US stood at $9.4 billion during the last fiscal year. He described the US as Pakistan’s largest single-country export market.

Addressing a US Congressional Delegation and American business representatives, Dar said stronger trade and investment ties could create new opportunities for companies in both countries.

He said closer economic cooperation could also generate employment, encourage innovation and support long-term economic growth.

Dar highlighted several areas where Pakistan and the US could expand commercial cooperation. These include information technology, artificial intelligence, energy, manufacturing, agriculture and critical minerals.

He said Pakistan is already an important buyer of American cotton and soybeans. The country is also becoming a growing market for US hydrocarbons.

At the same time, Pakistan’s increasing demand for advanced machinery, technology and capital goods could create opportunities for American manufacturers, he added.

Dar said the presence of more than 80 US companies in Pakistan demonstrated growing confidence in the country’s market and economic potential.

He welcomed the interest shown by American companies in Pakistan’s technology, energy, critical minerals and defence sectors.

The foreign minister also pointed to the US Exim Bank’s $1.25 billion financing for the Reko Diq project as an indication of increasing US confidence in Pakistan’s investment prospects.

Dar encouraged American businesses to establish partnerships with Pakistani companies and explore long-term investment opportunities.

He said Pakistan had improved its infrastructure over the past decade through modern highways, ports and logistics networks. These developments, he added, had strengthened the country’s position as a potential trade and investment gateway.

The government is also working to make the business environment more investor-friendly. Dar said regulatory procedures had been simplified to reduce bureaucratic delays and make licensing and approvals easier.

He said Pakistan wanted to deepen cooperation with the US across both goods and services. Technology, AI, energy, manufacturing, critical minerals and agriculture were among the sectors identified for greater collaboration.

Dar also highlighted the broader improvement in Pakistan-US relations. He said frequent high-level contacts under Prime Minister Shehbaz Sharif and US President Donald Trump had helped strengthen bilateral engagement.

He said his meetings with US Secretary of State Marco Rubio had also focused on strengthening relations and discussing regional developments.

The foreign minister stressed that parliamentary engagement was equally important. He said regular interaction between lawmakers could improve mutual understanding and strengthen institutional ties.

Dar said Pakistan’s engagement with the US Congress had increased significantly over the past year. The interaction has included lawmakers from both political parties and key congressional committees.

The two countries also discussed regional security and stability. Dar said stronger Pakistan-US relations could contribute to peace and stability in the wider region.

He also recalled Pakistan’s role in facilitating dialogue between the US and Iran. Dar said Islamabad remained committed to dialogue, diplomacy and peaceful solutions to regional disputes.

The foreign minister separately received a US congressional delegation comprising Representatives Ryan Zinke and Michael James Baumgartner.

During the meeting, both sides discussed ways to expand cooperation in trade, investment, IT, energy and other areas.

The US lawmakers acknowledged the contribution of the Pakistani community to American society and economy. They described the diaspora as an important link between the two countries.