ISLAMABAD: Pakistan and Iran on Tuesday reaffirmed their commitment to increasing bilateral trade to US$10 billion and expanding cooperation in trade, investment and private-sector engagement.
The commitment was reiterated during the 10th Pakistan-Iran Joint Trade Committee (JTC) meeting in Islamabad, co-chaired by Pakistan’s Commerce Minister Jam Kamal Khan and Iran’s Minister of Industry, Mine and Trade Mohammad Atabak, according to a joint communiqué issued after the talks.
Addressing the meeting, Atabak described Pakistan as a long-term strategic trading partner and said Iran attached the highest priority to expanding comprehensive cooperation with the neighbouring country.
He said Tehran was keen to strengthen trade and logistics cooperation through Pakistan’s Karachi and Gwadar ports and expressed hope that negotiations on a Pakistan-Iran Free Trade Agreement (FTA) would conclude successfully in the near future.
The Iranian minister said electricity trade and enhanced regional connectivity also offered fresh opportunities to strengthen economic cooperation between the two countries.
Pakistan calls for early FTA
Jam Kamal Khan said the longstanding historical relationship between Pakistan and Iran must now be transformed into a stronger economic partnership.
He stressed the need to finalise the proposed Free Trade Agreement at the earliest opportunity and called for the removal of barriers affecting border logistics, customs procedures and cargo movement to facilitate bilateral trade.
The commerce minister said operationalising joint border markets and introducing electronic data interchange systems would significantly enhance trade and improve cross-border commercial activity.
He added that the private sectors of both countries were ready to expand business ties, while governments had the responsibility to provide a seamless, structured and predictable business environment.
Jam Kamal expressed confidence that the Joint Trade Committee meeting would produce a practical roadmap capable of taking bilateral economic cooperation to new heights and unlocking the full potential of Pakistan-Iran trade relations.
The Iranian delegation led by Atabak meeting arrived in Islamabad on Monday night for a two-day visit focused on strengthening bilateral trade relations.
The delegation comprised 22 Iranian government officials and a 16-member business delegation led by the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA).
The business representatives included companies from the food, agribusiness, logistics, shipping, transportation, energy and manufacturing sectors, reflecting both countries’ efforts to promote greater private-sector participation and expand commercial cooperation.
Both sides underscored the importance of enhancing economic integration through improved infrastructure, border trade facilitation and stronger institutional cooperation.
