Finance Minister Muhammad Aurangzeb announced that Pakistan plans to hold an investor conference in Washington later this month to attract American investors, Bloomberg reported on Wednesday.
“The sectors where we are seeking investment are well defined, and there is a clear appetite from investors,” Aurangzeb said in an interview with Bloomberg News in Islamabad. “Regarding the US, this process has just been initiated.”
Relations between Pakistan and the United States have strengthened in recent months. Following a trade agreement, Pakistan secured the lowest tariff rate in the region at 19%, a move expected to increase exports.
Last week, Prime Minister Shehbaz Sharif and Army Chief Field Marshal Syed Asim Munir met US President Donald Trump at the White House, a rare gathering to discuss a wide range of issues. Ahead of the meeting, President Trump described both PM Shehbaz and the Army chief as “great” leaders.
READ MORE: Pakistan Seeks US Investment in Mining Sector
Economic ties are also expanding. Last month, Pakistan and the US signed a $500 million memorandum of understanding (MoU) to collaborate on critical minerals production, formalized between US Strategic Metals (USSM) and Pakistan’s Frontier Works Organisation (FWO).
Aurangzeb said that these developments followed the new trade deal with the US, which set the 19% tariff. He added that the lower tariff has strengthened Pakistan’s export competitiveness and contributed to the country’s economic recovery.
