ISLAMABAD: In a major step toward strengthening Pakistan-US economic ties, the United States and Pakistan have signed two Memoranda of Understanding (MoUs) which focus on the growth and logistics of critical minerals resources, ARY News reported.
The ceremony was held at the Prime Minister’s House in Islamabad, where US Strategic Metals (USSM) representatives and Frontier Works Organisation (FWO) of Pakistan finalised the agreements. Deputy Prime Minister and Foreign Minister Ishaq Dar, Chief of the Army Staff Field Marshal Syed Asim Munir and Federal Ministers were also the part of the meeting.
Acting Deputy Chief of Mission Zachary Harkenrider was leading the US delegation, which included officials from USSM and Mota-Engil.
US Chargé d’Affaires Natalie Baker considered the MoUs as a symbol of the growing power of Pakistan-US economic ties. She highlighted that critical mineral resources are imperative to American security and prosperity, especially for clean energy technologies, defence applications, and advanced manufacturing.
US Strategic Metals, based in Missouri, is an expert in producing and recycling critical minerals such as cobalt, nickel, and copper. The company aims to work jointly with FWO to identify and develop critical minerals resources across Pakistan in different sites.
During the delegation’s visit from September 7 to 9, high-level meetings were held with Pakistan’s Prime Minister, Field Marshal, Petroleum Minister, and Commerce Minister.
The US officials received detailed briefings on Pakistan’s mineral wealth, including copper, gold, and rare earth elements.
Discussions also explored investment opportunities in mineral processing and infrastructure development.
The MoUs are likely to pave the way to boost Pakistan-US economic ties and future partnerships between US and Pakistani companies, highlighting a new era of strategic cooperation.
Read More: Ministry presents details of Pak-US trade deal in NA
Earlier, the Ministry of Commerce shared details of a recent trade deal signed with the United States with the National Assembly.
The house was informed that the trade agreement will boost Pakistan’s exports and positively impact the economy.
Minister of State for Finance Bilal Azhar Kayani told the house during question hour that the 19% tariff rate offered to Pakistan is the lowest in the South Asian region.