Dar Targets $20bn Pakistan-US Trade Within Five Years
ISLAMABAD: Deputy Prime Minister and Foreign Minister Ishaq Dar said on Tuesday that Pakistan was confident of doubling its bilateral trade with the United States to $20 billion within the next five years. He presented the target while addressing visiting US lawmakers and business representatives in Islamabad during discussions focused on expanding economic cooperation.
Dar told the delegation that goods trade between Pakistan and the United States reached approximately $9.4 billion during the previous fiscal year. He described the figure as encouraging but maintained that the two countries had enough complementary strengths to achieve substantially higher commercial activity through sustained engagement and targeted investment.
The deputy prime minister noted that the United States remains Pakistan’s largest export destination when individual countries are considered. He said Pakistan is also a major buyer of American cotton and is emerging as an important market for US hydrocarbons, while growing domestic demand for advanced technology, industrial machinery and capital equipment could create further opportunities for American suppliers.
The visiting delegation included US congressmen Ryan Zinke and Michael James Baumgartner, along with business representatives exploring commercial prospects in Pakistan. Dar described strong and mutually beneficial economic ties as an important measure of a mature strategic partnership and urged the visitors to engage directly with Pakistani companies, policymakers and potential investment partners.
Dar said more than 80 American companies operating in Pakistan reflected continued confidence in the country’s market, workforce and long-term economic potential. He argued that an improving macroeconomic environment, structural reforms and competitive trade conditions could support a new phase of investment, provided both governments and private-sector stakeholders maintained momentum.
The government, he added, wants deeper cooperation with the United States in information technology, artificial intelligence, energy manufacturing, critical minerals and agriculture. Dar said regulatory procedures had been simplified and transparency measures strengthened to make it easier for companies to establish operations, expand existing businesses and pursue long-term projects in Pakistan.
He highlighted the Special Investment Facilitation Council as a central platform for assisting investors through a coordinated, one-window mechanism. The delegation was encouraged to work with the council to identify viable projects and resolve administrative issues, while Pakistan’s embassy and consulates in the United States were also offered as points of support for future commercial engagement.
Dar welcomed the US Export-Import Bank’s $1.25 billion financing for the Reko Diq mining project and expressed hope that it would be followed by additional American investments. He also sought continued engagement from the US International Development Finance Corporation and the US Trade and Development Agency, institutions that can support financing, project preparation and private-sector partnerships.
During a separate meeting, Dar and the two congressmen discussed cooperation in trade, investment, technology and energy, according to the Foreign Office. The visiting lawmakers acknowledged the contribution of the Pakistani diaspora to the US economy and society, describing the community as an important bridge between the two countries. Both sides also supported continued parliamentary exchanges to strengthen mutual confidence.
Dar linked stronger economic ties with broader regional stability, saying Pakistan would continue supporting dialogue and diplomacy during periods of international uncertainty. Achieving the proposed $20 billion target will now depend on converting official commitments into new trade agreements, investment decisions and commercially sustainable projects across the sectors identified during the talks.