Pakistan-US trade could reach $20 billion within the next five years, Deputy Prime Minister and Foreign Minister Ishaq Dar said while addressing a visiting bipartisan US congressional delegation and American business leaders in Islamabad. He said both countries have strong economic potential that can be unlocked through deeper commercial cooperation and investment.
Dar noted that bilateral trade in goods reached $9.4 billion during the last fiscal year but remained below its true capacity. He expressed confidence that stronger business partnerships and expanding market access would help achieve the ambitious trade target. The United States continues to be Pakistan’s largest single-country export destination.
Highlighting existing economic ties, Dar said Pakistan is one of the largest buyers of US cotton and soybeans while also becoming an important market for American hydrocarbons. He added that Pakistan’s increasing demand for advanced technology, industrial machinery and capital goods creates fresh opportunities for US manufacturers and exporters.
The foreign minister said more than 80 American companies are already operating in Pakistan, demonstrating confidence in the country’s long-term economic prospects. He welcomed a visiting American business delegation exploring investment opportunities in technology, critical minerals, energy and defense-related industries.
Dar said Pakistan’s improving macroeconomic indicators, structural reforms and competitive US tariff environment have strengthened investor confidence. He encouraged foreign businesses to work with the Special Investment Facilitation Council (SIFC), which is helping investors complete projects through faster approvals and simplified procedures.
He also highlighted government efforts to improve the investment climate by reducing bureaucratic barriers, increasing transparency and upgrading transport and logistics infrastructure. Pakistan is offering incentives through Special Economic Zones and technology parks to attract greater foreign direct investment from American companies.
Dar welcomed the US EXIM Bank’s $1.25 billion financing for the Reko Diq mining project, describing it as a positive signal of international confidence in Pakistan’s economy. He added that Pakistan remains committed to strengthening relations with the United States through trade, investment and dialogue while promoting regional peace, stability and shared prosperity.
