Pakistan Seeks to Strengthen Ties with China and US, Eyes Enhanced Trade Relations
In a bid to bolster its economic landscape, Pakistan is looking to engage with the US and China, its 'critical and strategic allies', according to Federal Minister for Finance & Revenue, Muhammad Aurangzeb. With a weighted average tariff on US exports to Pakistan standing at around 7%, and US imports from Pakistan at approximately 10%, the country is poised to explore new avenues for trade and investment. As Pakistan seeks to enhance its trade relations with key global players, it is likely to focus on areas such as international trade agreements, foreign investment, and economic cooperation. By strengthening its ties with China and the US, Pakistan aims to stimulate economic growth, create jobs, and improve its overall trade deficit. With the country's economy on the cusp of transformation, the role of strategic alliances and trade partnerships is expected to play a crucial role in shaping its future trajectory, including aspects of global trade, economic development, and foreign policy.
