Pakistan, Iran Target $10 Billion Bilateral Trade
At a glance
- Pakistan and Iran aim to increase bilateral trade to $10 billion.
- The commitment was made during the 10th Joint Trade Committee meeting.
- Both nations are pushing for a Free Trade Agreement and improved connectivity.
Story so far
Iran has expressed strong interest in expanding trade and economic cooperation with Pakistan, particularly utilising the ports of Karachi and Gwadar. This was discussed during the 10th session of the Pakistan-Iran Joint Trade Committee (JTC) in Islamabad. Both nations have now renewed their commitment to raise bilateral trade to $10 billion and are actively pursuing a Free Trade Agreement. Discussions have also focused on operationalising joint border markets and strengthening road and rail connectivity.
Latest development
Pakistan and Iran have set a new target to increase their bilateral trade volume to $10 billion. This commitment was renewed in a joint communiqué issued after the 10th Joint Trade Committee meeting, where both sides also agreed to enhance collaboration in commerce, investment, and the private sector.
Latest updates
Pakistan and Iran have renewed their commitment to raise bilateral trade to $10 billion. This commitment was outlined in a joint communiqué issued on Tuesday following the 10th Pakistan-Iran Joint Trade Committee (JTC) meeting. Both nations agreed to expand collaboration in commerce, investment, and the private sector. Pakistan's Commerce Minister Jam Kamal Khan emphasized the importance of concluding the proposed Free Trade Agreement without delay and called for the removal of obstacles affecting border logistics, customs clearance, and cargo movement. He also underscored the importance of establishing joint border markets and introducing electronic data interchange systems.
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