Islamabad 3 August: Pakistan and Iran have reaffirmed their commitment to significantly deepen economic ties, setting an ambitious target to increase bilateral trade to $8 billion in the coming years.
The announcement came after high-level talks held in Islamabad between senior officials from both countries, including Pakistan’s Minister of Commerce and Iran’s Minister of Industry, Mine and Trade. The two sides discussed ways to strengthen cooperation in key sectors such as energy, agriculture, pharmaceuticals, transport, and border trade.
“We are entering a new phase of economic cooperation based on mutual interests and regional connectivity,” said the Pakistani commerce minister. “Our goal is to create sustainable trade growth that benefits both nations.”
The current trade volume between Pakistan and Iran stands at approximately $2 billion. To reach the new target, the countries plan to streamline customs procedures, enhance banking cooperation, develop cross-border infrastructure, and explore preferential trade agreements.
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Iran’s minister emphasized the importance of regional partnerships amid shifting global dynamics. “By aligning our economic strategies and facilitating smoother trade mechanisms, we can achieve this $8 billion milestone,” he said.
Both sides also agreed to expedite work on several joint projects, including the Pakistan-Iran gas pipeline and new border markets aimed at improving local economies.
The commitment signals a renewed push for regional integration and economic diplomacy, as both countries seek to offset external economic pressures and boost intra-regional trade.
