Pakistan US Finalize Trade Deal with Lowest Regional Tariffs at 19%
Pakistan-US Trade Deal to Boost Exports, Slash Tariffs to Record Low
Pakistan is set to benefit significantly from a new trade agreement with the United States, which promises to boost exports and positively impact the country’s economy, lawmakers were informed on Thursday.
Speaking during the National Assembly’s question hour, Minister of State for Finance Bilal Azhar Kayani revealed that under the agreement, the US has offered Pakistan a reduced tariff rate of 19% — the lowest offered to any South Asian country so far.
The Ministry of Commerce, while outlining the key features of the agreement, confirmed that the United States has also shown interest in investing in Pakistan’s mineral sector.
Officials said the government formed a dedicated working group and a steering committee — headed by the finance minister — to engage in direct talks with American counterparts. These discussions have focused on ensuring that Pakistan’s export sector is not adversely affected by the deal.
As part of a three-point strategy, Pakistan plans to enhance imports from the US to help reduce its trade deficit. Both countries have also agreed to hold further discussions to address taxation on specific products and to review non-tariff barriers to remove or ease them.
“The framework for cooperation has been agreed upon,” the commerce ministry told the House, adding that Washington has already slashed tariffs from 29% to 19% as part of the deal.
Further negotiations are expected in the coming weeks as both sides work toward finalizing the full scope of the agreement.
Mutib Khalid is a skilled content writer and digital marketer with a knack for crafting compelling narratives and optimizing digital strategies. Excel in creating engaging content that drives results and enhances online presence. Passionate about blending creativity with data-driven approaches, Mutib Khalid helps brands connect with their audience and achieve their goals.
