ISLAMABAD: Pakistan's foreign minister Shah Mahmood Qureshi said on Tuesday his country did not want "transactional ties" with the United States and was hoping to broaden and deepen its relationship with Washington.

Addressing a think tank event in Islamabad that focused on Pakistan's foreign policy challenges amid a changing geopolitical landscape, Qureshi noted that Pakistan was striving to pursue its geo-economic interests in the world.

He added it was in the same context that Pakistan wanted a multifaceted relationship with the US which was immune to changes in the global political environment.

He also maintained his country's relationship with China was thriving due to the economic connectivity projects carried out under Beijing's Belt and Road Initiative (BRI).

"Our relations with China are meant to grow further with BRI's flagship CPEC creating connectivity," he told the gathering. "Looking towards the US we don't want transactional ties but multifaceted relations."

The foreign minister said the world was once against witnessing intense competition between global powers which was leading to fragile world peace.

"Indeed, we live in times of uncertainty," the state-run APP news agency quoted him as saying. "The world order seems in a state of severe stress and disarray. In these times, foreign policy and geopolitics are largely linked to geoeconomics. I have consistently maintained, from here on, the economy is in many ways our strategic compass with a dominant presence as priority of foreign policy."

Qureshi said the changing strategic orientation of Pakistan's foreign policy had led to a 28 percent growth in its exports to the United Kingdom amid COVID-19. There was also a seven percent improvement in its trade with Africa since Islamabad adopted a policy of enhanced engagement with that continent.

"This is a modest beginning with a huge surge expected in the tech industry in the near future," he added.

The conference was also addressed by serving and former ambassadors from other countries and foreign policy experts in Pakistan.