Pakistan proposes zero-tariff bilateral trade agreement to United States
Business
Trump had claimed credit for mediating the truce in exchange for increased trade commitments
ISLAMABAD (Dunya News) - Pakistan proposed a zero-tariff bilateral trade agreement to the United States in a bid to deepen economic engagement and expand trade volumes between the two countries.
According to official sources, Islamabad floated a proposal to Washington suggesting the removal of tariffs on selected lines of mutual interest, under a bilateral framework aimed at enhancing trade ties. The proposed agreement seeks to facilitate trade expansion across several key sectors by eliminating duties on mutually agreed products.
Sources said that the final approval of the proposal rests with Prime Minister Shehbaz Sharif. Once endorsed, Pakistan is expected to enter into formal negotiations with the US to work out the details of the trade framework.
Also read: AJK president welcomes Trump mediation on Kashmir conflict
The move comes in the backdrop of renewed optimism surrounding regional stability. Following the recent ceasefire agreement between Pakistan and India, US President Donald Trump had claimed credit for mediating the truce in exchange for increased trade commitments from both nuclear-armed neighbours.
Trump had praised the leaderships of both countries and expressed confidence that the United States would engage in "substantial trade" with Pakistan and India. Observers believe that the easing of tensions between Islamabad and New Delhi created space for Washington and Islamabad to explore deeper economic cooperation.
