ISLAMABAD / WASHINGTON D.C. – Pakistan and the United States have finalised a landmark agreement focused on developing Pakistan’s oil reserves and potentially easing tariffs, representing a significant boost in bilateral economic cooperation.
The deal assigns a U.S. firm to spearhead joint energy ventures and curtail trade barriers in key sectors like energy, mining, information technology, and pharmaceuticals. While the specific tariff adjustments remain undisclosed, Pakistani officials anticipate substantial reductions in import duties, aimed at facilitating smoother commerce between the two nations.
U.S. officials lauded the pact as ushering in a “new era of economic collaboration,” with international observers noting the highlight: Trump’s suggestion that the agreement could eventually enable Pakistan to export oil to neighboring India, signaling a broader reshaping of South Asian trade relationships.
For Pakistan, the arrangement offers a strategic opportunity to attract foreign investment, support infrastructure development, and diversify its regional economic partnerships. The agreement is viewed as an important counterbalance to escalating trade tensions between the U.S. and India, particularly over energy transactions with Russia.
This story has been reported by PakTribune. All rights reserved.