Pakistan and Iran have agreed to increase bilateral trade to $10 billion, with both countries advancing trade, investment, tariff reduction, and border market cooperation.
ISLAMABAD, Pakistan — Web Desk: Pakistan and Iran have agreed to raise their bilateral trade volume to $10 billion, marking a significant step toward strengthening economic ties between the neighboring countries.
The agreement was reached during the 10th Session of the Pakistan-Iran Joint Trade Committee, held in Islamabad. Pakistan’s Minister for Commerce Jam Kamal Khan and Iran’s Minister of Industry, Mine and Trade co-chaired the high-level meeting.
According to Pakistan’s Ministry of Commerce, the three-day negotiations focused on expanding cooperation in trade, investment, and economic development. Both sides agreed to continue work through technical committees to ensure the swift implementation of the decisions reached during the talks.
A key outcome of the meeting was the commitment to increase bilateral trade to $10 billion, reflecting both countries’ intention to deepen commercial relations and enhance cross-border economic activity.
The ministry said negotiators also made significant progress on the Pakistan-Iran Preferential Trade Agreement, particularly regarding tariff reduction mechanisms and trade regulations aimed at facilitating commerce between the two countries.
Both governments further agreed to strengthen business-to-business (B2B) cooperation, expand and improve the barter trade system, and encourage greater private-sector engagement.
In addition, Pakistan and Iran agreed to accelerate the inauguration of the Cheedgi-Kohak border market, while deciding to establish joint committees to ensure the effective management and operation of border markets.
Officials expressed confidence that the agreements reached during the Joint Trade Committee meeting would help boost bilateral investment, improve regional connectivity, and create new opportunities for businesses in both countries.
