ISLAMABAD: Pakistan and Iran on Sunday signed multiple agreements and Memorandums of Understanding (MoUs) in a bid to boost bilateral trade to $10 billion.
The exchange ceremony was held in Islamabad on Sunday, in the presence of Prime Minister Shehbaz Sharif and Iranian President Dr Masoud Pezeshkian.
The agreements and Memorandums of Understanding (MoUs) covered a broad spectrum of cooperation between the two parties.
They included commitments to enhance collaboration in plant protection and quarantine measures, as well as the joint use of the Mirjaveh-Taftan border crossing to facilitate trade and movement.
Both sides also agreed to strengthen partnerships in science, technology, and innovation, along with advancing cooperation in the field of information and communications technology.
Cultural and people-to-people exchanges featured prominently in the MoUs, with provisions for collaborative programs in culture, art, tourism, youth engagement, mass media, and export promotion.
Additionally, the agreements addressed cooperation in meteorology, climatology, and the management of related natural hazards, reflecting a shared interest in climate resilience and disaster preparedness.
Further MoUs were signed to enhance maritime safety and firefighting capabilities, provide judicial assistance in criminal matters, and supplement an existing 2013 agreement related to air services.
The two sides also committed to mutual recognition of product certification, inspection, and testing procedures, aiming to facilitate smoother trade and regulatory alignment.
A specific agreement was reached to promote tourism cooperation for the period from 2025 to 2027.
Lastly, a joint ministerial statement was issued, affirming the intention of both parties to move forward with finalising a Free Trade Agreement, marking a significant step toward deeper economic integration.
$10 billion trade target
During a joint press conference with Iranian President Masoud Pezeshkian, Prime Minister Shehbaz Sharif stated that both sides had engaged in discussions on bilateral relations, regional matters, and other shared concerns.
“Several MoUs have been signed with Iran today. I hope these will take the form of agreements very soon,” the prime minister said, adding that both countries had agreed on a $10 billion trade target.
President Pezeshkian arrived in Pakistan on Saturday on a two-day state visit to increase bilateral trade and strengthen relations between the two countries.
