Dar upbeat on doubling Pakistan-US trade to $20bn in five years

ISLAMABAD: Deputy Prime Minister and Foreign Minister Ishaq Dar said on Tuesday that Pakistan believes its trade with the United States can reach $20 billion within the next five years, as Islamabad hosted a visiting American delegation of lawmakers and business representatives.

Speaking at an event attended by US congressmen Ryan Zinke and Michael James Baumgartner, Dar said goods trade between the two countries stood at $9.4bn in the last fiscal year. He said the US remained Pakistan’s largest single-country export destination and added, "While encouraging this figure … we are confident that we can double bilateral trade to 20bn over the next five years by fully harnessing the complementarity of our economies."

Dar described stronger economic links as central to the bilateral relationship, saying robust and mutually beneficial trade ties were “the true measure of a mature strategic partnership and friendship”. He said Pakistan remained among the largest importers of US cotton and was also emerging as an important market for US hydrocarbons.

He added that Pakistan’s demand for advanced machinery, technology and capital goods offered “significant opportunity for American manufacturers”. Dar also pointed to the presence of more than 80 US companies in Pakistan, saying their operations reflected confidence in the country’s market, workforce and long-term economic potential.

Referring to the investment climate, the foreign minister said Pakistan’s improving macroeconomic outlook, ongoing structural reforms and competitive US tariffs had positioned the market for a new phase of investment. He urged the visiting delegation to work closely with the Special Investment Facilitation Council, which he said had been created to provide a “one-window facility” for investors.

Dar encouraged the delegation to meet potential partners, explore commercial openings and pursue long-term investments that could benefit both countries. He said stronger trade and investment ties could create “mutually beneficial opportunities for businesses in both countries, generate employment, foster innovation and deliver shared prosperity”.

The visit comes after the two US lawmakers met Chief of Defence Forces Field Marshal Asim Munir on Monday, when avenues for greater economic collaboration between Pakistan and the United States also came under discussion.

Dar also linked stronger bilateral ties to broader regional stability, saying a solid Pakistan-US relationship would support international peace at a time of global uncertainty. He thanked US President Donald Trump and his administration for facilitating the ceasefire between Pakistan and India after tensions rose in May 2025, and also expressed gratitude for the “trust and confidence reposed in Pakistan” in facilitating negotiations in the US-Iran conflict that led to the signing of the Islamabad Memorandum of Understanding in June.

He said Pakistan would continue to back dialogue, diplomacy and the peaceful settlement of disputes because, in his words, these remained “the only sustainable pathways to lasting peace and stability”.