Pakistan, US agree to diversify trade partnership

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Commerce Minister Jam Kamal Khan meets with  US Chamber of Commerce and the US-Pakistan Business Council (USPBC), May 6, 2025. — PID
Commerce Minister Jam Kamal Khan meets with US Chamber of Commerce and the US-Pakistan Business Council (USPBC), May 6, 2025. — PID

ISLAMABAD: The United States Charge d’Affaires in Pakistan, Ms Natalie A. Baker, said on Tuesday that the resumption of US soybean exports to Pakistan signifies the growing partnership between the two countries.

Ms Natalie accompanied the delegation of the US Chamber of Commerce and the US-Pakistan Business Council (USPBC), which met Commerce Minister Jam Kamal Khan.

Senior Vice President Charles Freeman led the delegation.

An official announcement said that Ms Natalie emphasised that the renewed trade underscores the ability of both countries to find pragmatic solutions for enhancing agricultural cooperation and diversifying trade.

She appreciated positive developments in agricultural trade, such as the resumption of soybean exports from the US to Pakistan, demonstrating the strength of the partnership and the ability to find practical solutions and encouraging avenues for deeper agricultural cooperation and trade diversification.

She further said that enhanced cooperation in the cotton sector is also a key area for mutual growth, given Pakistan’s textile industry’s demand for high-quality cotton and the US’s position to meet this demand.

It is worth mentioning that US President Donald Trump has recently imposed enhanced tariffs on Pakistan and demanded reciprocal market access for US products such as soybean, cotton, etc.

According to the announcement, Pakistan and the US are pleased to strengthen their long-standing strategic and economic partnership, which has been marked by recent high-level engagements and a mutual commitment to enhancing trade and investment linkages.

Mr Kamal stated that the visit would further cement economic relations between the two countries and appreciated the role of USPBC over the past two decades in advancing US commercial engagements with Pakistan, actively working to increase trade and investment flows and creating opportunities for businesses in both nations.

He said that Pakistan values the US as its largest export destination and deeply appreciates this strategic trade relationship. Efforts are underway to address trade deficit and market access issues through a comprehensive strategy involving relevant stakeholders.

The minister said the recent 90-day pause in reciprocal tariffs is seen as a significant opportunity for constructive engagement and building a sustainable, mutually beneficial roadmap.

He assured that Pakistan is committed to creating a predictable and conducive trade environment for US businesses and investors, upholding transparent, rules-based, and fair-trade practices. The government of Pakistan is dedicated to establishing the best working relationship with the United States, particularly in trade and investment, to ensure progress on bilateral and multilateral levels.

Charles Freeman appreciated the warmth of the Government of Pakistan, which is fully committed to facilitating businesses and looks forward to continued dialogue and technical cooperation to support economic growth and job creation in both countries.

The visit of the US-Pakistan Business Council delegation from May 5-7 serves as a valuable platform for dialogue, partnership-building, and opportunity creation.

Published in Dawn, May 7th, 2025

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