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There has been a new trade agreement between Pakistan and the US, which Pakistan has declared historic. Prime Minister Shahbaz Sharif thanked US President Donald Trump and said that the deal will take the partnership of both countries to a new place. At the same time, Trump has described it as a big start towards developing the huge oil reserves of Pakistan together.
Pakistan is going to purchase American crude oil for the first time and Houston is expected to reach Karachi by October. This is after the announcement of an agreement by US President Donald Trump to develop “huge oil reserves” in Pakistan. This development is being seen as an important stance from the US and it also reflects a certain dominance of the US in Pakistan. This historic trade agreement between Sinergico and Vitol is at a time when a strong coalition between the US and India led by President Trump and Prime Minister Narendra Modi is under stress. This condition indicates possible changes in regional mobility, especially when India’s independent decisions appear to be different from American expectations.
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Agreement in Pakistan America
There has been a new trade agreement between Pakistan and the US, which Pakistan has declared historic. Prime Minister Shahbaz Sharif thanked US President Donald Trump and said that the deal will take the partnership of both countries to a new place. At the same time, Trump has described it as a big start towards developing the huge oil reserves of Pakistan together.
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What will be the benefit of Pakistan?
Pakistan, which is struggling with energy crisis, can get relief from oil production at the domestic level. American investment will support the economy and expect a improvement in foreign exchange reserves. The agreement also talks about increasing cooperation in IT, crypto, minerals and other business related areas.
What is America’s strategy?
The deal comes at a time when the US wants to balance the influence of China and Russia in Asia. Strategic partnership with Pakistan can help America open new avenues of energy and trade in South Asia.
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