Islamabad: Pakistan’s Finance Minister, Muhammad Aurangzeb, has announced the country’s intent to enhance economic ties with both China and the United States, emphasizing a shift from aid to trade and investment. This strategic move aims to strengthen Pakistan’s global partnerships and economic positioning.

According to Radio Pakistan, in an interview with Channel News Asia, Aurangzeb discussed the second phase of the China-Pakistan Economic Corridor (CPEC), which will focus on leveraging existing infrastructure through business-to-business collaboration, joint ventures, and export-oriented production. He also acknowledged the enduring support from Gulf Cooperation Council (GCC) countries during Pakistan’s economic challenges and indicated plans to expand engagement with GCC countries, Central Asian Republics, and ASEAN nations to enhance regional trade.

Aurangzeb’s remarks were further elaborated during the JP Morgan Investment Seminar titled “Pakistan: The Road to Resilience in a Turbulent Global Economy Landscape,” held alongside the World Bank Group-IMF Annual Meetings in Bangkok, Thailand. There, he reaffirmed Pakistan’s commitment to the International Monetary Fund’s (IMF) program and ongoing structural reforms, coupled with a prudent monetary policy aimed at containing inflation.

Additionally, the Finance Minister highlighted Pakistan’s achievements in macroeconomic stabilization, fiscal consolidation, revenue mobilization, and maintaining sustained primary surpluses. He outlined efforts to diversify international financing and replace costly borrowing without increasing external debt. The focus remains on providing targeted support for vulnerable households, ensuring efficient energy procurement, and fostering sustainable, export-led growth.