Prime Minister Shehbaz Sharif has hailed a newly concluded landmark trade and energy agreement with the United States, calling it a pivotal moment in expanding Pakistan – US strategic cooperation.

Announced by President Donald Trump, the deal includes a joint plan to develop Pakistan’s substantial oil reserves, addressing energy deficits and sparking potential long-term economic growth. Discussions are underway to select a leading oil company to spearhead the initiative.

The agreement marks more than just an energy collaboration. It also includes tariff reductions on Pakistani exports and lays the groundwork for deeper cooperation in critical areas such as minerals, mining, IT, digital trade, and infrastructure development.

In response, Foreign Minister Ishaq Dar stated that the two countries are “very close” to finalizing a mutually beneficial trade agreement and have formed a committee to fine‑tune the details for final cabinet approval.

Finance Minister Muhammad Aurangzeb, who led talks in Washington, described the pact as a “win‑win” solution to ease Pakistan’s 29% trade surplus-derived tariffs and attract U.S. investment in energy, mining, and new economy sectors.

Prime Minister Shehbaz Sharif took to social media to express deep gratitude to President Trump, stating this agreement will “enhance our growing cooperation and expand the frontiers of our enduring partnership” in the coming days.

With the U.S and Pakistan’s total trade hovering around $7.3 billion in 2024, this deal signals a shift toward a more expansive bilateral economic agenda.