Lead
Pakistan's Deputy Prime Minister and Foreign Minister Ishaq Dar said the government is "confident" that trade with the United States can double to $20 billion over the next five years. Speaking to a delegation of US congressmen and business leaders in Islamabad on Tuesday, Dar highlighted the complementary strengths of the two economies as the basis for the ambitious target.
Coverage Comparison
Both Dawn and The Jerusalem Post, which carried the remarks, reported Dar's projection and the underlying trade figures. Dawn framed the announcement around the economic partnership, quoting Dar's emphasis on "mutually beneficial" ties and the complementarity of the two economies. The Jerusalem Post, drawing on Radio Pakistan, highlighted Pakistan's improving economic indicators and structural reforms as the basis for the goal. Both outlets noted that bilateral goods trade reached $9.4 billion in the last fiscal year.
Key Claims
- Dar said Pakistan aims to increase bilateral trade with the US to $20 billion over the next five years, based on the complementary strengths of the two economies.
- Trade between Pakistan and the US reached $9.4 billion in the last fiscal year.
- Over 80 American companies are present in Pakistan, reflecting confidence in the country's market and long-term economic prospects.
- The US EXIM Bank provided $1.25 billion in financing for the Reko Diq project.
- The US is Pakistan's largest single-country export destination.
Perspectives
The Pakistan government, through Dar, framed the trade target as part of a broader strategic partnership. Dar called strong and mutually beneficial economic ties "the true measure of a mature strategic partnership and friendship." He noted that Pakistan remains among the largest importers of US cotton and is emerging as a market for US hydrocarbons, while Pakistani demand for advanced machinery, technology, and capital goods presents opportunities for American manufacturers. Dar also pointed to the Special Investment Facilitation Council (SIFC) as a "one-window facility" for investors, and encouraged the delegation to work with it.
The US delegation, including Representatives Ryan Zinke and Michael Baumgartner, met with Pakistani military leadership and Dar to discuss regional security, defense cooperation, and bilateral economic and trade ties, as reported by The Jerusalem Post. The delegation's presence was met with optimism from Dar, who said the presence of over 80 US companies in Pakistan reflected "their confidence in our market, our people and our long-term economic potential."