US official to visit Islamabad to boost investment in Pakistan’s minerals sector

(Web Desk): A senior US official, Eric Meyer, who oversees the Bureau of South and Central Asian Affairs at the State Department, will visit Islamabad from April 8-10, 2025. The visit aims to advance US interests in Pakistan's growing minerals sector at the Pakistan Minerals Investment Forum (PMIF25).

The Oil and Gas Development Company Limited (OGDCL), in partnership with the Government of Pakistan and other strategic partners, is organizing the Pakistan Minerals Investment Forum on April 8-9 at the Jinnah Convention Centre in Islamabad.

This event will bring together global investors to explore opportunities in Pakistan's emerging minerals industry, which has vast potential.

According to the US State Department, Eric Meyer will meet with senior Pakistani officials to discuss expanding opportunities for American businesses in Pakistan and strengthening economic relations between the two countries. Meyer will also highlight the importance of continued collaboration between the US and Pakistan on counterterrorism.

This visit comes amid tensions from President Donald Trump’s decision to impose a 29% tariff on goods imported from Pakistan, as part of a broader move to increase tariffs on several countries. The US now charges Pakistan a 29% tariff, while Pakistan had previously imposed a 58% tariff on US imports. Despite this, Pakistan’s annual exports to the US amount to $6 billion, representing 18% of Pakistan’s total exports. However, this is a small fraction of total US imports, which were valued at $3.36 trillion in 2024. Countries like Vietnam, Bangladesh, Sri Lanka, and India hold larger shares in the US market, with Vietnam alone accounting for 4.2% of US imports.

The majority of Pakistan’s exports to the US are textiles, which make up 75-80% of the total. Other exported goods include leather, surgical instruments, rice, cement, steel products, and salt. Pakistan competes with countries like China, India, Vietnam, Cambodia, Indonesia, and Bangladesh in the textile market.

Prime Minister Shehbaz Sharif and his cabinet have often emphasized the importance of Pakistan’s mineral resources for the country’s economic recovery. In addition, Saudi Arabia’s Manara Mineral has shown interest in investing in Balochistan’s Reko Diq mine, one of the world’s largest untapped copper-gold deposits. The mine is jointly owned by global mining company Barrick Gold and Pakistan. Manara Mineral had visited Pakistan last year to discuss purchasing a stake in the project.