With bilateral trade hitting a record high of $9.4 billion last fiscal year, Pakistan is setting its sights on doubling that figure to $20 billion over the next half-decade, capitalizing on what it describes as complementary economic synergies between the two nations.
The bullish forecast was delivered Tuesday by Deputy Prime Minister and Foreign Minister Ishaq Dar during a meeting with a visiting delegation of U.S. lawmakers and entrepreneurs. Dar characterized the strengthening commercial relationship as “the true measure of a mature strategic partnership and friendship,” emphasizing that robust economic ties are foundational to the broader bilateral agenda.
The delegation, which includes U.S. Congressmen Ryan Zinke and Michael James Baumgartner, is in Pakistan to explore avenues for cooperation against a backdrop of significantly improved diplomatic relations.
This thaw follows Pakistan’s mediation efforts in the U.S.-Iran conflict, which President Donald Trump has publicly acknowledged as “really helpful.”
Deputy Prime Minister/Foreign Minister Senator Mohammad Ishaq Dar @MIshaqDar50 addressed an interactive session at the Ministry of Foreign Affairs today with the visiting U.S. Congressional Delegation (CODEL), comprising Rep. Ryan Zinke @RepRyanZinke and Rep. Michael Baumgartner… pic.twitter.com/D7vcZmsGnM
— Ministry of Foreign Affairs – Pakistan (@ForeignOfficePk) July 28, 2026
Those efforts culminated in the June 17 peace deal—dubbed the Islamabad Memorandum of Understanding—though Islamabad remains actively engaged in diplomatic efforts to salvage the interim agreement amid a fragile truce in the Middle East.
“Pakistan will continue to support dialogue, diplomacy and peaceful resolution of disputes, as we firmly believe these remain the only sustainable pathways to lasting peace and stability,” Dar told the delegates.
The foreign minister also expressed gratitude for President Trump’s diplomatic intervention in facilitating a ceasefire between Pakistan and India following a dangerous 87-hour conflict in May 2025.
Trade Trajectory and Sectoral Opportunities
Noting that the U.S. remains Pakistan’s largest single-country export destination, Dar expressed confidence in the upward trajectory. “While encouraging this figure … we are confident that we can double bilateral trade to $20 billion over the next five years by fully harnessing the complementarity of our economies,” he stated.
Dar outlined a “mutually rewarding” partnership, highlighting Pakistan’s role as a major importer of U.S. cotton and a growing market for American hydrocarbons. He pointed to surging domestic demand for advanced machinery, technology, and capital goods as a “significant opportunity for American manufacturers.”
🔈 PR No. 1️⃣9️⃣2️⃣/2️⃣0️⃣2️⃣6️⃣
Deputy Prime Minister/Foreign Minister Senator Mohammad Ishaq Dar @MIshaqDar50 addressed the visiting Congressional Delegation (CODEL) and U.S. Business Delegation today (28 July 2026).
🔗⬇️ pic.twitter.com/49MavIJqX4
— Ministry of Foreign Affairs – Pakistan (@ForeignOfficePk) July 28, 2026
With over 80 U.S. companies currently operating in Pakistan, Dar cited this as a testament to “confidence in our market, our people and our long-term economic potential.”
He added, “With an improving macroeconomic outlook, ongoing structural reforms, and competitive U.S. tariffs, Pakistan’s market is well positioned for a new wave of investment.”
To facilitate this influx, Islamabad has established the Special Investment Facilitation Council (SIFC), which Dar assured the delegation offers a “one-window facility” for investors. He specifically identified IT, artificial intelligence, energy manufacturing, critical minerals, and agriculture as priority sectors for collaboration, as Pakistan undertakes regulatory and infrastructure reforms to foster a more business-friendly climate.
Video of the remarks by the Deputy Prime Minister/Foreign Minister Senator Mohammad Ishaq Dar @MIshaqDar50 to the CODEL & U.S. Business Delegation (28 July 2026) pic.twitter.com/K2KrULruUR
— Ministry of Foreign Affairs – Pakistan (@ForeignOfficePk) July 28, 2026
Institutional Support and Diaspora Recognition
Looking ahead, Dar expressed hope for continued backing from U.S. financial institutions, including the EXIM Bank, the U.S. International Development Finance Corporation, and the U.S. Trade and Development Agency.
In a sign of growing institutional interest in Pakistan’s resource sector, the EXIM Bank recently approved $1.25 billion in financing for the Reko Diq mining project—a move Dar predicted would be “the first of many such investments.”
“Expanded trade and investment could create mutually beneficial opportunities for businesses in both countries, generate employment, foster innovation and deliver shared prosperity,” he added.
According to a statement from Pakistan’s Foreign Ministry, the U.S. delegation acknowledged the “valuable contributions of the vibrant Pakistani diaspora to the U.S. economy and society, recognizing it as a vital bridge between Pakistan and the United States.” The congressmen also expressed appreciation for Pakistan’s “constructive role in promoting regional peace and stability.”
Huma Nisar is Associate Editor at Views and News. She also writes opinion articles on health, society and diet.
