Pakistan and Iran have renewed their commitment to raise bilateral trade to $10 billion.
According to a joint communiqué issued on Tuesday after 10th Pakistan-Iran Joint Trade Committee (JTC) meeting, both sides agreed to expand collaboration in commerce, investment and private-sector.
Pakistan’s Commerce Minister Jam Kamal Khan and Iran’s Minister of Industry, Mine and Trade, Mohammad Atabak jointly chaired the meeting.
During the meeting, Atabak showed interest in expanding trade and logistics cooperation through the ports of Karachi and Gwadar. He also expressed optimism that a Pakistan-Iran Free Trade Agreement (FTA) would be finalised soon, noting that enhanced electricity trade and stronger regional connectivity could create significant economic opportunities for both countries.
Jam Kamal said the time had come to transform the two nations’ historic relationship into a robust economic partnership. He emphasised the importance of concluding the proposed FTA without delay and called for the removal of obstacles affecting border logistics, customs clearance and cargo movement to facilitate smoother bilateral trade.
The minister also underscored the importance of establishing joint border markets and introducing electronic data interchange systems to help accelerate trade. He noted that businesses on both sides were eager to strengthen commercial relations, adding that it was the responsibility of the two governments to ensure a stable and business-friendly environment.
Khan said the discussions would produce a practical roadmap to expand economic cooperation and unlock the full potential of bilateral trade.
The Iranian delegation arrived in Islamabad on Monday night for a two-day visit to attend the 10th JTC session and hold meetings with senior Pakistani officials on trade and economic cooperation.
