ISLAMABAD: Pakistan and Iran on Tuesday resolved to further strengthen bilateral friendly relations to foster trade and economic prospects that will contribute to regional stability and prosperity.
A high-level delegation from Iran, led by Ali Fekri, Deputy Minister and Head of the Organization of Investment, Economic and Technical Assistant of Iran (OIETAI), met with Pakistan’s Federal Minister for Economic Affairs, Sardar Ayaz Sadiq, in Islamabad.
The purpose of the meeting was to discuss bilateral economic cooperation and strengthen ties between the two nations. The meeting, held at the Ministry of Economic Affairs, marked an important step towards enhancing trade and investment opportunities between Pakistan and Iran.
Federal Minister Sardar Ayaz Sadiq warmly welcomed the Iranian delegation and expressed his gratitude for their visit. He emphasized that Pakistan values its longstanding and amicable relations with Iran and aims to further strengthen bilateral ties to foster trade and economic prospects. The Minister highlighted the importance of promptly executing agreements and memorandum of understanding reached during the 21st Session of the Pak-Iran Joint Economic Commission to bolster economic cooperation and facilitate enhanced people-to-people connectivity, particularly in the field of transportation.
Iran Keen to Collaborate with Pakistan
Ali Fekri, Deputy Minister and Head of OIETAI, expressed Iran’s keen interest in collaborating with Pakistan and shared their plans for investment in various sectors, including energy projects and infrastructure development. He acknowledged the favorable investment climate in Pakistan and the government’s commitment to providing a business-friendly environment. Fekri also expressed a keen interest in joining the projects of the Islamic Development Bank (IsDB) in Pakistan, aiming to facilitate the introduction of Iranian companies in the country and foster stronger bilateral relations.
During the meeting, both sides discussed avenues for increased trade, investment, and technical cooperation in various sectors such as energy, agriculture, infrastructure development, manufacturing, and technology. Special emphasis was placed on the Turkmenistan, Afghanistan, Pakistan, India (TAPI) gas pipeline project and the Pakistan-Iran gas initiatives, with a focus on accelerating their implementation and ensuring successful completion. The significance of enhancing the banking channel between Pakistan and Iran was also stressed, highlighting the potential for bilateral trade through barter arrangements.
Both delegations acknowledged the importance of enhancing bilateral trade volume and pledged to facilitate the business communities of both countries in tapping into the immense opportunities available for economic cooperation.
