Islamabad/Washington: Pakistan is actively working to increase its imports from the United States, particularly in commodities like cotton and soybean, while seeking to remove non-tariff barriers that have affected trade between the two countries.
According to Finance Minister Muhammad Aurangzeb, this is part of a broader strategy to rebuild Pakistan’s economy following its close brush with default in 2023.
In an interview with Bloomberg, Aurangzeb stated that Pakistan is looking to engage with the US on a larger scale, with a formal trade delegation scheduled to visit Washington in the near future.
Pakistan is also exploring opportunities to attract foreign direct investment, particularly from US firms, into its newly opened minerals and mining sectors.
The finance minister revealed that the country is planning to debut its first-ever Panda bond, which is expected to raise between $200 million and $250 million, likely in the fourth quarter of 2025.
This marks an important step in Pakistan’s strategy to tap into international capital markets and secure funds for sustainable growth.
Having received preliminary approval for a $2.3 billion loan from the International Monetary Fund (IMF), which will provide financial stability until 2027, Pakistan is focusing on moving away from the economic cycles of boom and bust.
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Aurangzeb emphasized that the government is working to create a more stable and sustainable growth model for the country, ensuring that it remains on a path of long-term economic recovery.
Exports to the US represent Pakistan’s largest market, totaling over $5 billion annually. In contrast, imports from the US are approximately $2.1 billion.
With reciprocal tariffs imposed under the Trump administration still hanging in the balance, Pakistan aims to negotiate and address trade barriers to further enhance economic cooperation with the US.
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The country’s credit rating was recently upgraded by Fitch, reflecting confidence that Pakistan can successfully navigate its ongoing reforms under the IMF’s guidance. Story by AHmed Mukhtar.
