The global artificial intelligence landscape is dominated by a relentless arms race between Silicon Valley and Beijing. Billions of dollars are poured into training massive Large Language Models (LLMs) with ever-increasing parameter counts. However, building impressive underlying foundational models is only half the battle. The true value of artificial intelligence lies in real-world application, physical integration, and industrial deployment. This is precisely where the United Arab Emirates (UAE) is carving out an undeniable advantage, shifting the conversation from theoretical AI capabilities to physical, operational impact. Is the UAE Leading the Practical AI and Robotics Adoption Race? While the United States and China focus on raw compute power and algorithmic breakthroughs, the UAE has strategically positioned itself as the global testbed for real-world execution. By pairing forward-thinking regulatory frameworks with substantial state-backed capital, the region eliminates tra...
FinMin Aurangzeb, US commerce secretary discuss reciprocal tariffs, ongoing negotiations for trade deal
ISLAMABAD: Pakistan and the United States have resolved to carry forward their negotiations through a constructive engagement to finalise the trade deal at the earliest, according to a statement released on Tuesday
Finance Minister Muhammad Aurangzeb held a virtual meeting with US Commerce Secretary Howard Lutnick on Monday (June 16) to discuss US reciprocal tariffs and advance ongoing negotiations toward a trade deal.
The discussions, held at 2100 hours (PST), centred on engagement in trade and investment cooperation, with both sides agreeing that detailed technical-level discussions would follow soon, based on a mutually agreed roadmap. The meeting was part of sustained efforts to deepen economic ties between the two countries.
Both sides expressed confidence in advancing these negotiations to a successful conclusion at the earliest.
Speaking at an event in Islamabad on Tuesday, the finance minister said he had a constructive and positive conversation with the US commerce secretary last night. He said that both countries are moving in the right direction and are stepping ahead to strengthen their strategic partnership.
The talks come against the backdrop of US-announced reciprocal tariffs in April, citing Pakistan’s $3 billion trade surplus with the United States. These tariffs, which could amount to 29% on Pakistani exports, were suspended for 90 days to allow space for negotiations.
Finance Minister Aurangzeb and US Trade Representative Ambassador Jamieson Greer initiated the formal dialogue with a telephonic conversation on May 30.
Earlier in May, Pakistan proposed a zero-tariff bilateral trade agreement to the United States, offering wide-ranging economic concessions.
Commerce Minister Jam Kamal told Reutersthat Pakistan was prepared to extend incentives to American firms, particularly in the mining sector in Balochistan, through joint ventures with local companies. These concessions include lease grants and investment facilitation.
Additionally, Pakistan has offered to increase imports from the United States, especially cotton and edible oils, which are in short domestic supply.
The developments come amid a broader strategic thaw, with US President Trump recently stating that Washington is working on "big deals" with both Pakistan and India.
This follows the US-brokered ceasefire earlier between the two neighbours after the worst cross-border clashes in decades.
Comments
Post a Comment