Second round of negotiations between Iran and Pakistan on Free Trade Agreement (FTA) started in Islamabad on Tuesday and continues till Wednesday.
A three-member delegation from ‘Trade Promotion Organization of Iran’ is visiting Pakistan to attend the meeting. Mirhadi Seyyedi, the caretaker of the Export Markets Development Department of Iran’s Trade Promotion Organization is leading the Iranian delegation.
The meeting will also discuss implementation of already signed Preferential Trade Agreement (PTA) between the two countries.
Reviewing mutual trade list and FTAs text will be on the agenda of the talks for finalizing the agreement.
The first round of the talks was held between the two countries in Tehran in Dec. 2016. Iran and Pakistan have agreed to increase annual trade volume to $5 billion by 2021.
In a major development after the JCPOA, the central banks of the two countries have signed an agreement to resume the banking channel.
Last year volume of trade between Iran and Pakistan increased to more than $1 billion which shows a growing trend after the JCPOA.—Agencies