ISLAMABAD:Minister for Finance and Revenue Senator Muhammad Aurangzeb on Thursday said Pakistan is shifting its focus from aid to trade and investment, seeking to strengthen economic ties with the Gulf Cooperation Council (GCC), China, the United States and other regional partners to unlock new opportunities for growth and exports.
In an interview with News Asia on the sidelines of the World Bank Group-IMF Annual Meetings 2026, the minister expressed gratitude to Pakistan’s bilateral partners for their support through economic challenges, stressing that the country was now focused on building mutually beneficial trade and investment relationships.
He said Pakistan valued its longstanding relations with Gulf countries, which extended beyond trade to include substantial remittance flows. Remittances reached $41.6 billion last year and were expected to rise to $44 billion this year, he added.
Aurangzeb said Pakistan was also working to deepen economic cooperation with China and the United States, describing both as important partners in the country’s efforts to expand investment, business-to-business collaboration and exports.
He said the first phase of the China-Pakistan Economic Corridor (CPEC) had focused on infrastructure development, including roads, ports and independent power projects, while the second phase was aimed at monetising those investments through business-to-business cooperation and joint ventures.
The minister noted that some joint ventures were already producing goods for export, demonstrating the potential of the next phase of economic cooperation with China.
Referring to ties with the United States, he said Pakistan’s leadership maintained good relations with the Trump administration and wanted to advance bilateral economic engagement.
Aurangzeb said regional cooperation was becoming increasingly important amid the fragmentation of global trade, creating opportunities for Pakistan to diversify its economic partnerships and strengthen trade links with different regional blocs.
He highlighted Pakistan’s engagement with the GCC, Central Asian republics and the Association of Southeast Asian Nations (ASEAN), pointing to recent high-level exchanges with Malaysia and Indonesia and his planned meeting with Thailand’s finance minister.
The minister said changing global trade dynamics offered Pakistan an opportunity to explore new markets and expand economic cooperation with regional partners.
He noted that the United States remained Pakistan’s largest trading partner, followed by the European Union, while stressing the significant untapped potential for trade and investment with other regional economies.