Foreign Secretary S Jaishankar and Sharif's Adviser on Foreign Affairs Sartaj Aziz were among those present during the meeting.
Earlier, Swaraj, speaking at a multilateral meet on Afghanistan, said it was time India and Pakistan display "maturity and self-confidence" to do business with each other as the world was rooting for a change.
"It is time that we display the maturity and self-confidence to do business with each other and strengthen regional trade and cooperation. The entire world is waiting and rooting for a change. Let us not disappoint them.
"For its part, India is prepared to move our cooperation at a pace which Pakistan is comfortable with," she said.
Prime Minister Sharif also hosted a lunch for the heads of delegations at the conference.
Swaraj arrived in Islamabad on Tuesday on a two-day visit to attend the 'Heart of Asia' ministerial conference on Afghanistan.
Swaraj's visit in Islamabad came days after talks between the National Security Advisors of India and Pakistan in Bangkok, where they discussed terrorism, Jammu and Kashmir and a range of key bilateral issues apart from agreeing to carry forward the "constructive" engagement.
A joint statement issued after the meeting of NSAs said the talks were held pursuant to a meeting between Prime Ministers Narendra Modi and Sharif on the sidelines of the climate meet in Paris.
Before Paris, Modi and Sharif had held bilateral meeting in Russian city of Ufa where they decided that their NSAs would meet to discuss all "terror-related" issues.
However, Pakistan had called-off Aziz' visit after New Delhi had made it clear that he would not be allowed to meet Kashmiri separatist leaders in the Indian capital.
Image: External Affairs Minister Sushma Swaraj met with Pakistani Prime Minister Nawaz Sharif. Photograph: Vikas Swarup/ Twitter
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