Latest news with #NatalieBaker
Business Recorder
4 days ago
- Business
- Business Recorder
Bilateral trade, investment: Pakistan, US vow to boost cooperation
ISLAMABAD: Pakistan and the United States have reaffirmed their commitment to strengthening bilateral trade and investment, following a high-level meeting between Finance Minister Senator Muhammad Aurangzeb and Natalie Baker, Chargé d'Affaires of the US Embassy here. During the meeting held at the Finance Division, both sides discussed avenues for expanding economic cooperation, finalising a landmark trade agreement, and unlocking new opportunities across key sectors including energy, minerals, IT, and cryptocurrency. The finance minister stated that Pakistan's economy had 'turned a corner,' noting that the recent upgrade by Moody's — aligning all three major international rating agencies in their assessment of Pakistan's economic performance—was clear evidence that the hard and necessary reforms undertaken by the government were yielding positive results. He highlighted Pakistan's bold and much-needed tariff reforms aimed at liberalising trade and steering the country towards export-led growth. Aurangzeb thanked the US for its continued economic and development support to Pakistan and recalled his recent visit to Washington, DC, where he had constructive engagements with US Secretary of Commerce Howard Lutnick and United States Trade Representative Ambassador Jamieson Greer to finalise the trade agreement between both the countries. The minister emphasised that the agreement would usher in a new era of economic collaboration —particularly in energy, mines and minerals, IT, cryptocurrency, and other sectors — while expanding market access, attracting investment, and fostering cooperation in areas of mutual interest. He expressed hope that the deal would lead to increased US investment in Pakistan's infrastructure, development projects, and digital and mining sectors, which were ready for tangible action and progress. Natalie Baker said that the trade agreement presented a significant opportunity for both Pakistan and the US to expand bilateral trade. She noted that US companies were taking a keen interest in investment and entrepreneurial opportunities in Pakistan, particularly in supply chain, production, project management, energy, critical minerals, mining, and oil exploration. Both sides reaffirmed their commitment to working closely together to advance these initiatives, ensuring mutually beneficial outcomes and further strengthening trade and economic cooperation between the two countries. Copyright Business Recorder, 2025
Arab News
4 days ago
- Business
- Arab News
Pakistan, US step up investment talks, move toward joint counterterrorism plan
KARACHI: Senior Pakistani and US officials on Friday discussed next steps in economic investment and the development of a joint counterterrorism strategy in meetings aimed at deepening economic and defense ties between the two countries. Pakistan's commerce ministry said earlier this week it had finalized a strategy to implement a recently negotiated tariff deal with the United States that Islamabad hopes will unlock US investment. Announced last month, the agreement set a reduced tariff rate of 19 percent on Pakistani imports — the lowest in the region — and is expected to revive bilateral trade while opening the way for US firms to participate in various Pakistani economic sectors. In talks with US Chargé d'Affaires Natalie Baker in Islamabad, Finance Minister Muhammad Aurangzeb said Pakistan's economy had 'turned a corner' after a prolonged downturn, a shift recognized by three major international rating agencies. 'The Minister emphasized that the [trade] agreement would usher in a new era of economic collaboration — particularly in energy, mines and minerals, IT, cryptocurrency and other sectors — while expanding market access, attracting investment and fostering cooperation in areas of mutual interest,' the finance ministry said in a statement released after the meeting. 'He expressed hope that the deal would lead to increased US investment in Pakistan's infrastructure, development projects and digital and mining sectors, which were ready for tangible action and progress,' it added. Aurangzeb thanked Washington for its continued economic and development support and recalled recent meetings in the US with senior officials to finalize the trade deal. In a video message after last month's announcement, he had noted Pakistan's goal was always to move 'beyond the immediate trade imperative,' calling the US-Pakistan pact 'a real win-win situation' for both nations. Pakistan, he added, had 'come a long way' in its overall strategic partnership with the US. COUNTERTERRORISM PLAN Separately, Interior Minister Mohsin Naqvi met US Coordinator for Counterterrorism Gregory LoGerfo in Islamabad to discuss closer cooperation to fight militant violence, and to work jointly on border security and anti-narcotics efforts. Pakistan and the US have shared a defense relationship dating back to the Cold War era, collaborating over decades on regional stability and counterinsurgency in Afghanistan. The latest talks between Naqvi and LoGerfo came days after Washington designated the separatist Baloch Liberation Army (BLA) and its Majeed Brigade faction as 'terrorist' organizations. Both have carried out coordinated attacks in Balochistan targeting security personnel, civilians and foreign nationals working on major development projects. 'Naqvi added that counterterrorism dialogue will help in creating a joint strategy,' the interior ministry said in a statement. 'He termed the US decision to designate the banned BLA and banned Majeed Brigade as Foreign terrorist organizations a commendable step, expressing hope that Pakistan-US cooperation will yield positive results in eliminating terrorism.' Naqvi also noted that bilateral ties had improved since President Donald Trump took office, citing transparency, mutual trust and cooperation as the hallmarks of the relationship and called it an opportune time to strengthen engagement in all areas.
Business Recorder
4 days ago
- Business
- Business Recorder
Pakistan, US vow to advance new trade agreement, boost trade & investment
Pakistan and the United States reaffirmed their commitment to deepen economic cooperation, with both sides agreeing to advance a new trade agreement aimed at expanding market access, boosting investment, and promoting collaboration in key sectors. The development came during a high-level meeting between Natalie Baker, Chargé d'Affaires of the Embassy of the USA, and Finance Minister Muhammad Aurangzeb on Friday at the Finance Division. Last month, the US administration imposed a 19% reciprocal tariff on a wide range of Pakistani goods, significantly lower than the initially proposed 29%, under an executive order signed by US President Donald Trump. Pakistan's revised tariff rate of 19% is lower than that of several regional economies, including India (50%), Bangladesh (20%), Vietnam (20%), and Sri Lanka (20%). During Friday's meeting, matters of mutual interest, including avenues for enhancing bilateral trade, commerce, and US investment in Pakistan, were discussed. The finance minister stated that Pakistan's economy had 'turned a corner,' noting that the recent upgrade by Moody's—aligning all three major international rating agencies in their assessment of Pakistan's economic performance—was clear evidence that the hard and necessary reforms undertaken by the government were yielding positive results. Moody's upgraded the Government of Pakistan's local and foreign currency issuer and senior unsecured debt ratings to Caa1 from Caa2. The rating agency also upgraded the rating for the senior unsecured MTN programme to (P)Caa1 from (P)Caa2. Aurangzeb highlighted that Pakistan's bold and much-needed tariff reforms aimed at liberalising trade and steering the country towards export-led growth. Aurangzeb thanked the United States for its continued economic and development support to Pakistan and recalled his recent visit to Washington, D.C., where he had engagements with US Secretary of Commerce Howard Lutnick and United States Trade Representative Ambassador Jamieson Greer to finalise the trade agreement between the two countries. The finance minister emphasised that the agreement would usher in a new era of economic collaboration—particularly in energy, mines and minerals, IT, cryptocurrency, and other sectors—while expanding market access, attracting investment, and fostering cooperation in areas of mutual interest. He expressed hope that the deal would lead to increased US investment in Pakistan's infrastructure, development projects, and digital and mining sectors, which were ready for tangible action and progress. Meanwhile, Natalie Baker said that the trade agreement presented a significant opportunity for both Pakistan and the US to expand bilateral trade. She noted that US companies were taking a keen interest in investment and entrepreneurial opportunities in Pakistan, particularly in supply chain, production, project management, energy, critical minerals, mining, and oil exploration, read the statement. The meeting concluded with both sides reaffirming their commitment to working closely together to advance these initiatives, ensuring mutually beneficial outcomes and further strengthening trade and economic cooperation between the two countries.
Express Tribune
28-06-2025
- Politics
- Express Tribune
US envoy, Naqvi discuss ties
Acting US Ambassador to Pakistan Natalie Baker on June 28 met with Interior Minister Mohsin Naqvi. Photo: INP Acting US Ambassador to Pakistan Natalie Baker on Friday met with Interior Minister Mohsin Naqvi to discuss matters of mutual interest, including regional security, counterterrorism and enhanced bilateral cooperation. Ambassador Baker reaffirmed the importance of US-Pakistan relations, stating, "Pakistan is a valued partner of the United States. We attach great importance to our relationship and look forward to further strengthening our cooperation across multiple sectors." The meeting highlighted the shared commitment of both countries to advancing peace and stability in the region through sustained dialogue and collaborative efforts. During the discussion, both sides exchanged views on various topics of shared interest, including counterterrorism, anti-narcotics collaboration, and growing security concerns across the region. The dialogue stressed the importance of strategic cooperation to address evolving transnational challenges. A key highlight of the meeting was the recent engagement between Pakistan's Chief of Army Staff, Field Marshal Asim Munir and US President Donald Trump. Both Naqvi and Baker viewed the meeting as a constructive step toward deepening strategic ties between Islamabad and Washington. Naqvi lauded President Trump's leadership in facilitating a ceasefire between Iran and Israel, describing his efforts as "extraordinary and sincere". "President Trump's impressive role in brokering peace between Iran and Israel, following his earlier contributions to the Pakistan-India ceasefire, will always be remembered," the interior minister remarked. "We hope President Trump will also succeed in bringing about a ceasefire in Gaza," he added. "Pakistan highly values every step taken for the promotion of peace. We have always believed in resolving disputes, including the Kashmir issue, through dialogue and diplomacy." Acting Ambassador Natalie Baker praised Pakistan's diplomatic initiatives aimed at stabilising the region.
Business Recorder
26-06-2025
- Business
- Business Recorder
US diplomat highlights potential of Pakistan's Reko Diq copper and gold mine
ISLAMABAD: The US Deputy Chief of Mission to Pakistan Natalie Baker said on Wednesday that the massive Reko Diq copper and gold mine is expected to generate more than $75 billion in profits over its lifetime and drive nearly $1 billion in US exports in equipment and services. Speaking during a webinar on business opportunities in Pakistan's critical minerals sector, Baker called the mine a world-class project and a key example of US-Pakistan cooperation. 'It demonstrates the impact of decades of collaboration between the US and Pakistan – beginning with a joint geological survey in 1961 that first discovered the copper and gold deposits in that part of Balochistan,' she said. Baker emphasised that Pakistan's critical minerals sector offers 'immense potential' for both countries, presenting opportunities for economic growth, innovation, and investment. 'Pakistan's diverse geological landscape is home to vast mineral deposits, including copper, gold, lithium, and antimony,' she said, adding that Pakistan had taken important steps to improve its business climate, making it easier for international firms to enter the market. She said such reforms would allow international investors and local communities alike to benefit from Pakistan's large-scale mining potential. The acting ambassador said the US Mission in Pakistan was committed to strengthening economic ties and helping US firms engage with the Pakistani market. 'Our embassy and consulates are here to support American companies by connecting them with local partners and ensuring they have the resources and information they need to succeed,' she said. 'We are committed to facilitating investment, promoting trade, and advocating for policies to improve the business environment,' she added. Baker noted that American firms had already taken part in the Reko Diq project, particularly in engineering and mining equipment. 'The many new projects underway will bring increased demand for modern geophysical surveys, infrastructure development, and project management – areas where American companies are uniquely positioned to contribute,' she said. She added that Pakistani mining companies were exploring new, highly prospective license areas, including copper and gold near Reko Diq and antimony elsewhere, and were actively seeking international partners. 'In recent years, we've seen significant progress in our economic relationship,' she said. 'US investors have made substantial contributions to Pakistan's development, and we are confident that the critical minerals sector will be another success story.' Concluding her remarks, Baker encouraged US businesses to seize emerging opportunities in the minerals sector. 'I encourage all of you to take advantage of the opportunities presented today. Engage with the experts, ask questions, and explore how your businesses can contribute to and benefit from Pakistan's critical minerals sector,' she said. 'The US Mission is here to assist you every step of the way.' Copyright Business Recorder, 2025
