LCCI welcomes trade deal with US
In a statement, LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman and Vice President Shahid Nazir Chaudhry hoped that the agreement would open new avenues for Pakistani exports and significantly strengthen bilateral trade relations. They said that this development is not only timely but also a clear indicator of growing international confidence in Pakistan's economic potential.
The LCCI office-bearers said that the United States has historically remained Pakistan's largest export destination and the new trade agreement is expected to provide preferential access to a wide array of Pakistani goods including textiles, leather products, surgical instruments, IT services, sports goods and agricultural commodities. This breakthrough will not only enhance Pakistan's export volume but also improve its trade balance and generate employment.
They also pointed out the strategic advantage Pakistan now holds due to the imposition of a 25% tariff on Indian products by the US government. This shift provides Pakistani exporters with a rare opportunity to capture additional market share in the US market, especially in sectors where Pakistani goods already enjoy a competitive edge.
Terming the development a direct outcome of strengthened diplomatic and military ties, the LCCI leaders said that the recent high-level engagement between the two countries, particularly the lunch hosted by US President Donald Trump in honour of Pakistan's Army Chief Field Marshal Syed Asim Munir, has played a pivotal role in resetting the tone of bilateral cooperation while the great untiring efforts by the Deputy Prime Minister Ishaq Dar and Finance Minister Muhammad Aurengzeb under the leadership of Prime Minister Shehbaz Sharif's leadership have made this agreement finalized.
The office-bearers stated that the current trade volume between Pakistan and the United States has already crossed $12 billion in 2024, with Pakistan maintaining a healthy trade surplus. The new agreement is likely to accelerate this trend further by attracting foreign investment and boosting industrial productivity. Additionally, the LCCI appreciated the inclusion of provisions for collaboration in the oil and energy sector, which they believe will be crucial for Pakistan's long-term energy security and economic sustainability.
The LCCI office-bearers urged the business community to seize the new opportunities created by this agreement. They assured exporters of their full support in accessing the American market and navigating the new trade framework.
They said that the agreement with Pakistan and United States is more than a diplomatic achievement it is an economic game changer that reflects Pakistan's rising profile in global trade.
Copyright Business Recorder, 2025
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