Deputy Prime Minister and Foreign Minister Ishaq Dar said on Tuesday that Pakistan’s trade in goods with the United States reached $9.4 billion during the last fiscal year, adding that the two countries could double bilateral trade to $20 billion over the next five years by “fully harnessing the complementarity of our economies.”

“The US is Pakistan’s largest single country export destination,” Dar said, addressing a US Congressional Delegation (CODEL) and US Business Delegation.

“By enhancing trade and investment linkages, we can create mutually beneficial opportunities for businesses in both countries, generate employment, foster innovation, and deliver shared prosperity for our peoples,” he said, adding that in today’s world, “strong and mutually beneficial economic ties are the true measure of a mature, strategic partnership and friendship.”

Dar noted that Pakistan remained among the largest importers of US cotton and soybeans, supporting American farmers, while also emerging as an important market for US hydrocarbons. He added that, similarly, Pakistan’s growing demand for advanced machinery, technology and capital goods presented a significant opportunity for American manufacturers.

The foreign minister said the presence of more than 80 American companies in Pakistan reflected their confidence in the country’s market, its people, and its long-term economic potential. Welcoming the US business delegation, Dar said he was “particularly encouraged to see leading American companies exploring opportunities across Pakistan’s technology, critical minerals, energy and defence sectors.”

He also acknowledged the US Exim Bank’s $1.25 billion financing for the Reko Diq project, saying it reflected growing confidence in Pakistan’s economic future.

The foreign minister urged delegation members to “meet your potential partners, explore your new opportunities, engage with our government, and lead your discussion into long-term investment that benefits both our countries.”

Dar stated that over the past decade, Pakistan had transformed its infrastructure through modern highways, ports and logistics corridors, and enhanced connectivity, “strengthening its position as a gateway for trade and investment.” 

Further, Dar said the government remained committed to deepening constructive engagement with the US government, businesses, investors and entrepreneurs to expand bilateral trade and investment across goods and services, including IT, AI, energy, manufacturing, critical minerals and agriculture, among other emerging sectors.

He added that Pakistan had streamlined regulatory procedures, reducing bureaucratic hurdles, simplifying licensing requirements, shortening approval timelines and enhancing transparency to create a more business-friendly investment climate, with the objective of making it easier for businesses to start, operate and expand in the country.

The foreign minister said Pakistan and the US “have every reason to build a partnership that fully harnesses our respective strengths for mutual benefit,” noting that under Prime Minister Shehbaz Sharif and President Donald Trump, the strategic partnership between Pakistan and the US has continued to gain momentum.

“Frequent high-level exchanges and engagements have become a hallmark of our friendship and relationship, anchored in mutual trust, mutual respect, and mutual benefit,” Dar said.

Further, he noted that he had maintained close engagement with US Secretary of State Marco Rubio, including two productive meetings in Washington where the two sides reviewed their bilateral agenda and exchanged views on regional developments. “We share the common objective of placing Pakistan-US relations on an even stronger footing across all pillars of our partnership,” the foreign minister said.

Turning to parliamentary ties, he said that “at a time of evolving regional and global dynamics,” regular exchanges were more important than ever “in building trust, enhancing mutual understanding, and reinforcing the long-term foundations of the Pakistan-US friendship.”

He added that such engagements deepened understanding of each other’s perspectives, strengthened institutional linkages, and contributed to more informed policymaking in both countries.

Over the past year, Dar said, Pakistan’s engagement with the US Congress had expanded significantly through sustained dialogue with members on both sides of the aisle and close interaction with key congressional committees, particularly the Foreign Affairs Committee.

On regional security, Dar said a strong Pakistan-US relationship contributed to regional stability and international peace “at a time of profound global uncertainty,” with the two countries working closely together towards the common objective of achieving lasting peace, stability and prosperity.

“We remain grateful for the proactive role of President Trump and his administration in facilitating the ceasefire between Pakistan and India in May 2025,” he added.

The foreign minister said that, with “humility and a deep sense of responsibility,” Pakistan had also played the role of a sincere and honest facilitator in the US-Iran dialogue.

“We remain grateful for the trust and the confidence reposed in Pakistan by both the US and Iran,” he said, adding that with the support of brotherly countries and international partners, the efforts had culminated in the signing of the Islamabad Memorandum of Understanding in June.

“Pakistan will continue to support dialogue, diplomacy and the peaceful resolution of disputes as we firmly believe these remain the only sustainable pathways to lasting peace and stability,” Dar added.

US CODEL calls on Dar

In a post on X, the Ministry of Foreign Affairs (MoFA) noted that the US CODEL called on Dar, who welcomed the delegation, which included Representatives Ryan Zinke and Michael James Baumgartner.

According to MoFA, Dar “highlighted the positive momentum in Pakistan-US relations,” while the two sides “discussed ways to further strengthen bilateral ties and expand cooperation in trade, investment, IT, energy, and other areas of mutual interest.”

The parties also “underscored the importance of sustained parliamentary exchanges in fostering mutual trust and further reinforcing the longstanding partnership between the two countries.”

According to MoFa, “The congressional delegation acknowledged the valuable contributions of the vibrant Pakistani diaspora to the US economy and society, recognising it as a vital bridge between Pakistan and the US.”

“They also exchanged views on regional and international developments,” MoFA said, adding that the Congressmen appreciated Pakistan’s constructive role in promoting regional peace and stability.