Pakistan, Iran Strengthen Ties with Trade Push

Pakistan and Iran are going for their trade alliance one step further. Both nations have signed to complete a Free Trade Agreement (FTA) and open border markets to utilize new bilateral trade opportunities.

During his three-day visit to Iran as a special guest of the Iranian government, Federal Minister for Commerce Jam Kamal Khan greeted Iran’s Minister of Industry, Mine and Trade, Seyyed Muhammad Atabak. Atabak welcomed the Pakistani delegation and expressed his condolences on the recent floods in Pakistan.

Khan also referenced Prime Minister Shehbaz Sharif’s vision of strengthening the private sector to increase trade volumes. He also referred to a dramatic increase in Pakistan’s rice and meat exports to Iran over the past few months, attributing the surge to Iranian President Dr. Pezeshkian’s recent visit to Pakistan. With bilateral trade already standing at $3 billion, both countries are now boldly looking at a $10 billion target through deeper cooperation, barter trade, and better road, rail, and port connectivity.

Tomorrow’s Joint Economic Commission (JEC) session will address ironing out trade obstacles, another step toward what both sides describe as a progressive and promising relationship.