Pakistan, US explore new trade avenues amid warming ties
Listen to article
United States Chargé d'Affaires Elizabeth Horst met Finance Minister Muhammad Aurangzeb in Islamabad on Monday to discuss economic cooperation and reaffirm the strengthening trajectory of bilateral ties, Radio Pakistan reported.
According to a finance ministry statement, the meeting provided 'an opportunity to exchange views on matters of mutual interest' and underscored growing collaboration between Pakistan and the US.
Aurangzeb thanked the US for its long-standing support of Pakistan's economic development, particularly the backing for macroeconomic stability achieved over the past 18 months.
He also recalled his recent visit to Washington, DC, where he held what he described as 'productive meetings' with US Secretary of Commerce Howard Lutnick and Trade Representative Ambassador Jamieson Greer.
The minister said those discussions had contributed to a 'healthy momentum in bilateral engagement'. 'The United States remains Pakistan's largest trading partner,' Aurangzeb said, while expressing Pakistan's interest in expanding cooperation beyond traditional sectors.
He noted growing potential in information technology, minerals, and agriculture as key areas for mutually beneficial investment and collaboration.
Aurangzeb also briefed the visiting diplomat on Pakistan's improving macroeconomic indicators, including recent sovereign rating upgrades and renewed investor confidence. He outlined key reforms being undertaken in taxation and energy aimed at fostering long-term, sustainable growth.
The minister further shared updates on Pakistan's successful participation in Middle Eastern capital markets and plans to issue the country's first Panda bond, along with upcoming ventures in the Euro and US dollar markets.
The meeting concluded with both sides reaffirming their commitment to deepen cooperation and build on the progress made in recent months.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
3 hours ago
- Business Recorder
Meat exporter TOMCL qualifies for all Carrefour retail networks in UAE
The Organic Meat Company Limited (TOMCL) announced on Thursday that it has qualified for direct exports to Carrefour Majid Al-Futtaim -Hyper Market LLC - (MAF) 's operations across the UAE. This was shared by the company in a notice to the Pakistan Stock Exchange (PSX) today. 'By surpassing Carrefour (MAF)'s stringent quality benchmarks, TOMCL is now an approved vendor for all Carrefour (Majid Al-Futtaim -Hyper Market LLC) UAE retail networks, significantly enhancing its regional footprint and positioning the company as a trusted halal meat supplier across major Middle Eastern retail markets,' TOMCL said. The company added that the historic milestone follows TOMCL's successful completion of Carrefour (Majid Al-Futtaim - Hyper Market LLC) 's comprehensive systems, hygiene, and operational excellence audit, in which the company achieved score of 94.89%. 'The audit assessed TOMCL's end-to-end compliance with international standards.' On August 5, the company announced a significant expansion of its international market presence with its entry into Tajikistan, a new market within the Commonwealth of Independent States (CIS) region. The company said it had secured confirmed export orders for frozen boneless beef valued at $3.24 million, which are to be fulfilled over the current financial year.
Business Recorder
9 hours ago
- Business Recorder
NLC-DP World delegation meets commerce minister
ISLAMABAD: In a major push towards boosting Pakistani exports, a delegation from NLC and DP World, led by Director General NLC met the Federal Minister for Commerce Jam Kamal Khan. Also present were Fakhr Alam, Vice Chairman DP World and CEO of Pakistan Mart project in the UAE, Rana Ihsaan Afzal, Coordinator to the Prime Minister and Muhammad Ashraf, Executive Director General from the Ministry of Commerce. The delegation unveiled a comprehensive presentation on the upcoming Pakistan Mart — a landmark commercial hub to be established near Jebel Ali, UAE. The DP World has pledged its full support by constructing this flagship project at zero construction cost for Pakistani stakeholders. The proposed Pakistan Mart will include commercial units, designed to house warehouses, retail shops, showrooms, and e-commerce fulfillment centers for Pakistani exporters and traders. It is envisioned as a one-stop marketplace to showcase Made-in-Pakistan products to Middle Eastern, African, and international buyers. Minister Jam Kamal Khan hailed the initiative as a 'transformational project' for Pakistani trade and export visibility. He emphasized the potential of sectors such as textiles, garments, surgical instruments, sports goods, food items, perishables, and nutraceuticals, noting that they are well-positioned to take advantage of this opportunity. He added that the mart must also cater to e-commerce fulfillment and logistics solutions to tap into the growing digital export market. The Commerce Minister directed all relevant departments of the Ministry of Commerce, including TDAP (Trade Development Authority of Pakistan), to urgently coordinate and support the development of this initiative. He assured the delegation of the government's full facilitation in streamlining processes and identifying export-ready enterprises to occupy the upcoming facility. The delegation of NLC and DP World urged the Ministry of Commerce to play an enabling role in selecting tenants, ensuring awareness campaigns, and supporting exporters in utilizing this golden opportunity. Pakistan Mart in UAE is poised to become a landmark step in export diversification, trade facilitation, and Pakistan's economic diplomacy in the Gulf region. Copyright Business Recorder, 2025
Express Tribune
16 hours ago
- Express Tribune
50,000 loans given under Punjab's 'Apni Chat Apna Ghar' project
Listen to article Punjab Chief Minister Maryam Nawaz said that under the 'Apni Chat Apna Ghar' housing scheme, 50,000 citizens have been provided with interest-free loans in just six months. The scheme aims to provide affordable housing to citizens across the province. Addressing the ceremony at the Expo Centre in Lahore, Maryam highlighted the successful disbursement of loans to low-income families, Radio Pakistan reported on Wednesday. "The promise of 'Apni Chat Apna Ghar' has been fulfilled, and 50,000 citizens have now received the financial support they need to build their homes," she said. "اپنی چھت اپنا گھر" پاکستان کی تاریخ کا کامیاب ترین ہاؤسنگ پراجیکٹ... وزیراعلیٰ پنجاب مریم نواز شریف نے 6 ماہ میں اپنی چھت اپنا گھر کا وعدہ پورا کر دیا! — Government of Punjab (@GovtofPunjabPK) August 6, 2025 The event saw thousands of families who have benefited from the scheme, including many women and children. CM Maryam personally met with families who have already started constructing their homes under the project, offering her congratulations and encouragement. "Many of these families, including a rickshaw driver and a woman who spoke of her dream home, have expressed heartfelt gratitude," said the CM. One recipient from Rawalpindi emotionally recounted how his dream of owning a house was finally realised, thanking both Nawaz Sharif and Maryam for making it possible. The scheme provides loans for homes ranging from five to ten marlas, with more than Rs74 billion in interest-free loans already disbursed. The first phase of the project has seen a 99% loan recovery rate. آج جب میں نے اپنی چھت اپنا گھر سے مستفید ہونے والوں سے پوچھا کہ حاضرین میں سے کون کون اپنے گھر کی تعمیر مکمل کر چکا ہے تو ہال میں موجود تمام تین ہزار افراد نے ہاتھ کھڑے کر دیے۔ میرے لیے اس سے زیادہ باعثِ تسکین شاید ہی کوئی لمحہ ہو ! — Maryam Nawaz Sharif (@MaryamNSharif) August 6, 2025 In the briefing, it was shared that more than 37,000 families have already received both installments of their loans, and over 52,000 homes are currently under construction. By the end of the month, 75,000 loans will have been disbursed, with an affordable monthly instalment of just Rs15,000, which has made the repayment process more manageable for beneficiaries. CM Maryam further stated that around 45,000 houses are currently being built under the scheme, and 9,000 homes have already been completed. "This initiative is about providing people with the means to build a better future for themselves and their families," she concluded.
