Iran and Pakistan have agreed to finalize a Free Trade Agreement (FTA) and activate border markets, which was crucial for increasing trade.
Federal Minister for Commerce Jam Kamal Khan, in a meeting with the Iranian minister Seyyed Muhammad Atabak during his three-day official visit to Iran, said that both sides are working on finalizing the list of items to be shared.
Khan mentioned that, as per the vision of Prime Minister Shehbaz Sharif, the private sector is being facilitated to enhance trade volume.
A significant raise in the export of Pakistan’s rice and meat to Iran is seen in recent months. He added that since the visit of Dr. Pezeshkian to Pakistan, our bilateral trade has improved a lot.
“Our trade target of $10 billion is achievable by our mutual efforts, enhanced people-to-people contact. He thanked the Iranian Minister for acknowledging the devastating flood effects in Pakistan.
Referring to visit of Dr. Pezeshkian to Pakistan, Atabak, Minister of Industry, Mine and Trade, said it is a testimony of the trust of the government of Iran in Pakistan.
READ MORE: Pakistan, Iran Pledge to Expand Bilateral Trade to $8 Billion
Our trade figures have reached $3 billion, which is very heartening. Both ministers stressed the need for barter trade.
They also agreed on enhancing interconnectivity through improved road and rail infrastructure and port development.
