Islamabad — Marking a fresh chapter in their economic ties, Pakistan and the United States have inked a significant trade agreement designed to strengthen cooperation across multiple sectors. Spearheaded by Pakistan’s Special Investment Facilitation Council (SIFC), the pact aims to open up US markets to Pakistani goods by lowering tariffs and creating smoother pathways for exports and investment.

A standout feature of this agreement is the partnership between Pakistan’s largest oil refiner, Cnergyico, and Vitol, a major US-based global energy company. This collaboration is expected to not only boost Pakistani exports to the US but also deepen engagement in vital industries including energy, minerals, technology, and even emerging fields like cryptocurrency.

Former US President Donald Trump voiced support for the deal, highlighting the US’s commitment to helping Pakistan tap into its substantial oil reserves—an area ripe with potential for economic growth.

Cnergyico, currently processing 156,000 barrels daily, is already planning to expand its refinery capabilities and build a second offshore terminal in the coming five years, signaling ambitions to scale up production and exports significantly.

Officials involved in the deal credit SIFC’s strategic outreach and investment-friendly policies for making this breakthrough possible. They anticipate that this agreement will serve as a powerful catalyst for sustainable economic growth, creating jobs and boosting key sectors in Pakistan’s economy.

This new partnership underscores a shared interest in long-term collaboration and reflects growing confidence in Pakistan as an emerging market with vast potential for US investors and businesses alike.