US-Pakistan trade pact hailed as game changer
The Lahore Chamber of Commerce and Industry (LCCI) has welcomed the new trade agreement between Pakistan and the United States, calling it a game changer for the country's economic future.
In a statement issued on Thursday, LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman, and Vice President Shahid Nazir Chaudhry expressed hope that the agreement would open new avenues for exports and strengthen bilateral trade ties. They called it a timely development and a sign of growing international trust in Pakistan's economy.
The LCCI office-bearers said the US has long been Pakistan's largest export destination, and the new agreement is expected to offer preferential access for key Pakistani goods including textiles, leather, surgical tools, IT services, sports items, and agricultural products. This, they said, will improve export volume, support the trade balance, and create jobs.
They pointed out the strategic opportunity created by the US imposing a 25% tariff on Indian products. This gives Pakistan an opening to gain more US market share, especially in sectors where it already has a competitive edge.
Calling it a result of stronger diplomatic and military ties, LCCI leaders said recent high-level engagement, particularly a lunch hosted by US President Donald Trump in honour of Pakistan's Army Chief Field Marshal Syed Asim Munir, reset bilateral relations. They credited the agreement to the efforts of Deputy Prime Minister Ishaq Dar and Finance Minister Muhammad Aurangzeb under Prime Minister Shehbaz Sharif's leadership.
They said current trade between the two countries has already exceeded $12 billion in 2024, with Pakistan enjoying a trade surplus. The new deal is expected to boost this further by attracting investment and raising industrial productivity.
The LCCI also welcomed provisions for cooperation in the oil and energy sector, calling it vital for Pakistan's long-term energy and economic security.
They urged the business community to take full advantage of the new opportunities and assured exporters of full support in navigating the American market.
The agreement, they said, is not just a diplomatic win, it is an economic game changer that reflects Pakistan's rising profile in global trade.
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