Deputy Prime Minister and Foreign Minister Ishaq Dar addressing the CODEL and US Business Delegation, July 28, 2026. SCREENGRAB
ISLAMABAD:
Deputy Prime Minister and Foreign Minister Ishaq Dar said on Tuesday that Pakistan’s trade in goods with the United States reached $9.4 billion during the last fiscal year, adding that the two countries could double bilateral trade to $20 billion over the next five years by “fully harnessing the complementarity of our economies.”
“The US is Pakistan’s largest single country export destination,” Dar said, addressing a US Congressional Delegation (CODEL) and US Business Delegation.
“By enhancing trade and investment linkages, we can create mutually beneficial opportunities for businesses in both countries, generate employment, foster innovation, and deliver shared prosperity for our peoples,” he said, adding that in today’s world, “strong and mutually beneficial economic ties are the true measure of a mature, strategic partnership and friendship.”
Dar noted that Pakistan remained among the largest importers of US cotton and soybeans, supporting American farmers, while also emerging as an important market for US hydrocarbons. He added that, similarly, Pakistan’s growing demand for advanced machinery, technology and capital goods presented a significant opportunity for American manufacturers.
The foreign minister said the presence of more than 80 American companies in Pakistan reflected their confidence in the country’s market, its people, and its long-term economic potential. Welcoming the US business delegation, Dar said he was “particularly encouraged to see leading American companies exploring opportunities across Pakistan’s technology, critical minerals, energy and defence sectors.”
He also acknowledged the US Exim Bank’s $1.25 billion financing for the Reko Diq project, saying it reflected growing confidence in Pakistan’s economic future.
The foreign minister urged delegation members to “meet your potential partners, explore your new opportunities, engage with our government, and lead your discussion into long-term investment that benefits both our countries.”
Dar stated that over the past decade, Pakistan had transformed its infrastructure through modern highways, ports and logistics corridors, and enhanced connectivity, “strengthening its position as a gateway for trade and investment.”
Further, Dar said the government remained committed to deepening constructive engagement with the US government, businesses, investors and entrepreneurs to expand bilateral trade and investment across goods and services, including IT, AI, energy, manufacturing, critical minerals and agriculture, among other emerging sectors.
He added that Pakistan had streamlined regulatory procedures, reducing bureaucratic hurdles, simplifying licensing requirements, shortening approval timelines and enhancing transparency to create a more business-friendly investment climate, with the objective of making it easier for businesses to start, operate and expand in the country.
The foreign minister said Pakistan and the US “have every reason to build a partnership that fully harnesses our respective strengths for mutual benefit,” noting that under Prime Minister Shehbaz Sharif and President Donald Trump, the strategic partnership between Pakistan and the US has continued to gain momentum.
“Frequent high-level exchanges and engagements have become a hallmark of our friendship and relationship, anchored in mutual trust, mutual respect, and mutual benefit,” Dar said.
