ISLAMABAD: Pakistan’s exports to the United States witnessed a substantial increase of 23 percent during the last fiscal year, the country’s envoy in Washington Masood Khan said on Saturday, adding it was the first time the quantum of Pakistani goods to the US market crossed the $5-billion mark.
The US has traditionally been Pakistan’s major economic partner, and their bilateral trade has steadily increased in recent years.
Quoting a statement released by the Pakistani diplomatic mission in the US, the Associated Press of Pakistan news agency said the country’s exports had reached $6.16 billion until the end of May.
The figures for June, it said, were yet to come and would further enhance the volume of Pakistan’s total exports to the US.
“The United States is an important trading partner and the single largest export destination for Pakistan,” Ambassador Khan said in an official statement. “The spurt in our exports is a very promising trend.”
He said Pakistan’s exports to the US in the IT and services sectors had also crossed $2 billion, adding the cumulative volume of exports should therefore be more than $8 billion.
“Pakistan’s tech sector, supported mainly by the United States’ entrepreneurs, has shown extraordinary results,” Khan noted. “It is poised to continue on its positive trajectory.”
The Pakistani ambassador hoped the bilateral partnership between the two countries in the tech sector would further strengthen in the coming years.
He also pointed out that there was only a marginal increase in American imports, though Pakistan’s exports to the US had witnessed a “huge rise.”
Pakistan’s exports to United States increase by 23 percent, says country’s envoy to Washington
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Pakistan’s exports to United States increase by 23 percent, says country’s envoy to Washington
- The US is Pakistan’s major trading partner, though this is the first time Pakistani exports have gone beyond $5 billion
- Ambassador Masood Khan hopes the two countries will continue to work together in the information technology sector
Pakistan PM speaks to UAE president, calls for enhanced cooperation
- Shehbaz Sharif lauds UAE’s economic support in challenging times
- Both leaders discuss a range of issues, agree to stay in close contact
ISLAMABAD: Prime Minister Shehbaz Sharif on Friday praised the United Arab Emirates for what he described as steadfast financial and political support during Islamabad’s recent economic crisis, as both sides signaled plans to deepen bilateral cooperation.
In a statement issued after Sharif spoke with UAE President Sheikh Mohamed bin Zayed Al Nahyan, the Prime Minister’s Office said the two leaders discussed matters of mutual interest and agreed to stay in close contact.
“The Prime Minister lauded the UAE’s consistent and unwavering support to Pakistan, that had helped the country navigate through difficult challenges,” the statement said, adding the two leaders “reaffirmed their shared desire to further enhance mutually beneficial cooperation between Pakistan and the UAE.”
The UAE, along with other friendly nations in the region, provided critical financial assistance to the South Asian country during a balance-of-payments crisis that strained Pakistan’s foreign exchange reserves and pressured its currency. Islamabad subsequently secured an International Monetary Fund program as part of broader stabilization efforts.
Sharif, in a post on X, described the exchange as positive.
“We fondly recalled our recent meetings and reaffirmed our shared resolve to further strengthen the historic, fraternal ties between Pakistan and the United Arab Emirates, and to expand mutually beneficial cooperation,” he wrote.
Millions of Pakistanis live and work in the UAE, forming one of the largest expatriate communities in the Gulf state.
Remittances from the UAE rank among Pakistan’s top sources of foreign currency inflows and play a significant role in supporting the country’s external accounts.
UAE-based companies are also investing in Pakistan, helping Islamabad develop its seaports to facilitate regional trade.
