ISLAMABAD: Deputy Prime Minister and Foreign Minister Ishaq Dar on Tuesday said the government was “confident” that trade between Pakistan and the US could double to $20 billion over the next five years.
Mr Dar made the remarks while addressing a delegation of US congressmen and businessmen. The gathering included US congressmen Ryan Zinke and Michael James Baumgartner, who are on a visit to Pakistan. Addressing the event, Mr Dar called strong and mutually beneficial economic ties “the true measure of a mature strategic partnership and friendship”.
Noting that the US is Pakistan’s largest single-country export destination, he said that goods trade between the two countries in the last fiscal year reached $9.4bn.
“While encouraging this figure… we are confident that we can double bilateral trade to $20bn over the next five years by fully harnessing the complementarity of our economies,” the deputy premier said.
Says bilateral trade can reach $20bn in five years through stronger economic cooperation
He said the Pak-US partnership was “mutually rewarding”, as Pakistan remained among the largest importers of US cotton and was also emerging as an important market for US hydrocarbons. Similarly, he said, Pakistan’s growing demand for advanced machinery, technology and capital goods presented “significant opportunity for American manufacturers”.
The minister also noted that the presence of over 80 US companies in Pakistan reflected “their confidence in our market, our people and our long-term economic potential”. “With an improving macroeconomic outlook, ongoing structural reforms, and competitive US tariffs, Pakistan’s market is well positioned for a new wave of investment,” he said.
Mr Dar highlighted that the government had set up the Special Investment Facilitation Council (SIFC) to provide a “one-window facility” to potential investors, and encouraged the delegation to continue working closely with SIFC as it was ready to help them turn opportunities into successful economic partnerships.
He called on the delegation to meet potential partners, explore new opportunities, engage with the government and lead discussions into long-term investments that benefit both our countries.
He expressed the government’s commitment to deepening engagement with the US government, businesses, investors and entrepreneurs to expand bilateral trade and investment in areas including IT, AI, energy manufacturing, critical minerals and agriculture.
Mr Dar said that the government had streamlined regulatory procedures and enhanced transparency to create a more business-friendly climate for investment, as well as transforming the infrastructure and connectivity of the country. He added that it remained open to providing competitive incentives to facilitate greater US investment in the country, saying, “Our objective is to make it easier for businesses to start, operate and expand in Pakistan.”
He expressed the hope for continued support from the US’ EXIM Bank, US International Development Finance Corporation, and the US Trade and Development Agency. He appreciated EXIM Bank’s $1.25bn financing for the Reko Diq project and said he was “confident” that it would be “the first of many such investments”.
He also stated the government’s commitment to supporting the investors’ long-term success in the country, adding that Pakistan’s embassy and consulates in the US would also remain available for assistance and support upon their return home.
Published in Dawn, July 29th, 2026