In a significant development, Pakistan's Federal Minister for Finance and Revenue, Muhammad Aurangzeb, announced his upcoming visit to the United States to discuss trade strategies amid shifting regional dynamics. This visit comes as Pakistan reassesses its trade positioning following recent agreements between the US and regional economies like India and Bangladesh, which have unsettled local industries. Aurangzeb emphasized the importance of maintaining Pakistan's export competitiveness, noting that the US remains Pakistan's largest single-country export destination, accounting for 18% of total exports, approximately $5.8 billion in FY2024-25, with textiles and garments constituting about 82% of these exports (Profit by Pakistan Today, Business Recorder). He stated, 'We are in a new world order,' urging local industries to reassess revenue models and productivity.
ECONOMY
Finance Minister Aurangzeb's US Visit to Reassess Trade Strategy
Pakistan's Finance Minister Aurangzeb to visit US for trade talks amid regional shifts. Focus on export competitiveness, IMF talks, tax reforms, and potential policy rate cuts to boost economy.
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Updated 13h agoAurangzeb to visit US as Pakistan reassesses trade strategy amid regional trade shiftsFEB 14, 11:19 AMRead →Tax reforms to make system business-friendly: DG TPOFEB 13, 9:23 PMRead →Illicit cigarette trade: Aurangzeb, BAT-PTC team discuss enforcement actionsFEB 13, 1:29 AMRead →Alleviating taxpayers’ difficulties top priority: FTOFEB 13, 12:47 AMRead →
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