Islamabad: Pakistan and Iran have agreed to enhance their bilateral trade volume to $10 billion, marking a significant development in economic cooperation between the two neighboring countries.
The agreement was reached during the 10th meeting of the Pakistan-Iran Joint Trade Committee held in Islamabad. The meeting was jointly chaired by Pakistan’s Commerce Minister Jam Kamal Khan and Iran’s Minister of Industry and Trade.
According to the Ministry of Commerce, the three-day discussions focused on key areas including trade, investment, and economic cooperation. Technical committees will continue working to ensure the swift implementation of the decisions agreed upon during the meeting.
Officials said that important progress was made regarding the framework of the trade agreement between Pakistan and Iran and mechanisms for reducing tariffs.
Both countries also agreed to further strengthen business-to-business relations, expand and improve the barter trade system, and promote greater economic interaction between their private sectors.
The two sides agreed to accelerate the process for opening the Chidgi-Kohak border market and decided to establish joint committees for the effective management of joint border markets.
The latest developments are aimed at increasing regional trade, improving economic connectivity, and enhancing cooperation between Pakistan and Iran.
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