Pakistan Seeks Stronger Ties with China and US, Eyes Enhanced Trade Relations
In a bid to strengthen its economic ties, Pakistan is reaching out to its 'critical and strategic allies', China and the US. According to Muhammad Aurangzeb, the Federal Minister for Finance & Revenue, the country is keen to engage with the US, with whom it has a significant trade relationship. The weighted average tariff on US exports to Pakistan stands at around 7%, while US imports from Pakistan are subject to a tariff of approximately 10%. As Pakistan looks to boost its trade and economy, it is likely to focus on key areas such as international trade agreements, foreign investment, and economic cooperation. With its strategic location and growing economy, Pakistan is poised to become a major player in regional trade, driven by its relationships with major economies like China and the US. By enhancing its trade relations with these countries, Pakistan aims to increase its exports, attract foreign investment, and drive economic growth, ultimately becoming a key player in global trade and commerce, including emerging markets and international business.
