Dar says Pakistan 'confident' bilateral trade with US can double to $20bn in next 5 years

Deputy Prime Minister and Foreign Minister Ishaq Dar on Tuesday said the government was “confident” that trade between Pakistan and the United States could double to $20 billion over the next five years.

Dar made the remarks while addressing a delegation of US congressmen and businessmen in Islamabad.

The gathering included US congressmen Ryan Zinke and Michael James Baumgartner, who are on a visit to Pakistan. The two lawmakers met with Chief of Defence Forces (CDF) Field Marshal Asim Munir on Monday and discussed avenues for enhancing economic collaboration between the two countries.

Addressing the event, Dar called strong and mutually beneficial economic ties “the true measure of a mature strategic partnership and friendship”.

Noting that the US is Pakistan’s largest single-country export destination, he said that goods trade between the two countries in the last fiscal year reached $9.4bn.

“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,” the deputy premier said.

He said the Pak-US partnership was “mutually rewarding”, as Pakistan remained among the largest importers of US cotton and was also emerging as an important market for US hydrocarbons. Similarly, he said, Pakistan’s growing demand for advanced machinery, technology and capital goods presented “significant opportunity for American manufacturers”.

The minister also noted that the presence of over 80 US companies in Pakistan reflected “their confidence in our market, our people and our long-term economic potential”.

“With an improving macroeconomic outlook, ongoing structural reforms, and competitive US tariffs, Pakistan’s market is well positioned for a new wave of investment,” he said.

Dar highlighted that the government had set up the Special Investment Facilitation Council (SIFC) to provide a “one-window facility” to potential investors, and encouraged the delegation to continue working closely with SIFC as it was ready to help them turn opportunities into successful economic partnerships.

He called on the delegation to meet potential partners, explore new opportunities, engage with the government and lead discussions into long-term investments that benefit both our countries.

“We greatly value our relationship with the US government and the American private sector,” Dar said, noting that enhancing trade and investment linkages could create “mutually beneficial opportunities for businesses in both countries, generate employment, foster innovation and deliver shared prosperity”.

He added that a strong relationship between the two countries would contribute to regional stability and international peace at a time of profound global uncertainty.

He also expressed his gratitude to US President Donald Trump and his administration for facilitating the ceasefire between Pakistan and India after tensions flared up in May 2025.

Similarly, Dar expressed gratitude for the “trust and confidence reposed in Pakistan” to facilitate negotiations in the US-Iran conflict, which led to the signing of the Islamabad Memorandum of Understanding between the warring parties in June.

“Pakistan will continue to support dialogue, diplomacy and peaceful resolution of disputes, as we firmly believe these remain the only sustainable pathways to lasting peace and stability,” the deputy prime minister said.

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