The US sealed a trade deal with Pakistan as their officials wrapped up talks in Washington, agreeing to develop oil reserves.

The United States and Pakistan hailed a trade deal on Thursday that Islamabad said would lead to lower tariffs and increased investment, but without specifying the level of tariff to be levied on Pakistani exports.

Pakistan is set to import its first-ever oil shipment from the US after the South Asian country this week signed a trade deal with Washington.