Deputy Prime Minister and Foreign Minister Ishaq Dar on Tuesday invited American businesses to invest in Pakistan, saying bilateral trade could double to $20 billion over the next five years.

Dar was addressing a visiting US Congressional delegation (CODEL) and a high-level American business delegation at the Ministry of Foreign Affairs.

He said Pakistan attached great importance to its longstanding strategic and economic partnership with the United States and was committed to expanding cooperation in trade, investment and emerging sectors.

He said the visit reflected the enduring friendship between the two countries and growing positive momentum in bilateral relations, adding that Pakistan and the US, home to the world’s fifth and third largest populations respectively, had immense potential to build a mutually beneficial partnership.

“The United States is Pakistan’s largest single-country export destination, with bilateral trade reaching $9.4 billion during the last fiscal year,” Dar said, expressing confidence that the volume could be doubled to $20 billion over the next five years.

He said Pakistan believed in fair, balanced and reciprocal trade that created value for both economies and delivered shared prosperity for their peoples.

Pakistan remained among the largest importers of US cotton and soybeans, supporting American farmers, Dar said, while also emerging as an important market for US hydrocarbons. Pakistan’s growing demand for advanced machinery, technology and capital goods offered significant opportunities for US manufacturers, he added.

Leading US companies were exploring opportunities in Pakistan’s technology, artificial intelligence, critical minerals, energy, defence and manufacturing sectors, Dar said, noting that ongoing structural reforms and a competitive US tariff regime had further enhanced the country’s attractiveness as an investment destination.

Dar highlighted the role of the Special Investment Facilitation Council (SIFC), calling it a one-window platform set up to streamline approvals and coordinate among government institutions.

He encouraged the visiting business leaders to engage with the SIFC to convert emerging opportunities into long-term commercial partnerships.

“The Government of Pakistan remains committed to deepening its constructive engagement with the US government, businesses, investors and entrepreneurs to expand bilateral trade and investment across goods and services, including IT, AI, energy, manufacturing, critical minerals, agriculture and other emerging sectors,” he said.

Pakistan remained ready to offer competitive incentives for greater US investment, including in special economic zones and technology parks, Dar said. He expressed hope that the US Export-Import Bank, the US International Development Finance Corporation (DFC) and the US Trade and Development Agency (USTDA) would continue supporting expanded trade and investment between the two countries.

Inviting American investors to become partners in Pakistan’s economic transformation, Dar assured them the government, under Prime Minister Shehbaz Sharif, would continue providing full facilitation for their long-term success.

Pakistan’s embassy in Washington and its consulates across the US would remain available to assist American investors in connecting with relevant institutions at home, he added.

On the broader relationship, Dar said Pakistan and the US shared a common objective of promoting lasting peace, stability and prosperity, and that Pakistan remained committed to dialogue and diplomacy as the only sustainable path to resolving disputes and maintaining regional peace.

He said Pakistan had transformed its diplomatic standing in recent years and was now widely recognised as a responsible peacemaker contributing to regional and international stability.

Dar urged the visiting US business delegation to serve as ambassadors of Pakistan’s positive image in the United States and to promote the country’s economic potential among the American business community.