Pakistan, Iran Eye Early FTA Amid $10bn Trade Target
Officials say negotiations on an Iran-Pakistan free trade agreement are advancing as both sides aim to lift bilateral trade from about $3 billion to $10 billion.
- On Tuesday, Pakistan and Iran reiterated their commitment to $10 billion bilateral trade during the 10th session of the Joint Trade Committee in Islamabad, which concluded Wednesday, while prioritizing finalization of a free trade agreement.
- Since March, both nations implemented measures to facilitate border trade, including formalizing the Taftan customs station and designating new transit routes, transforming historic ties into a robust economic partnership amid regional conflict.
- Commerce Minister Jam Kamal Khan urged removal of border logistics barriers and emphasized that joint border markets could significantly boost trade flows, stressing that both private sectors were prepared to expand commerce.
- Iranian Industry, Mine and Trade Minister Mohammad Atabak called Pakistan a "long-term strategic trade partner," expressing Tehran's desire to expand regional logistics cooperation through the ports of Karachi and Gwadar.
- Future prospects include electricity trade and regional connectivity, though analysts caution the long-delayed gas pipeline faces significant hurdles; both sides aim to evolve a practical roadmap to maximize bilateral trade volume.
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Joint border markets, Gwadar port cooperation on agenda as neighbours revive economic ties
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Pakistan, Iran reaffirm resolve to expand bilateral trade to $10bn
ISLAMABAD: Pakistan and Iran on Tuesday reiterated their resolve to expand bilateral trade to $10 billion, with Commerce Minister Jam calling for transforming “historic brotherly relations” with Iran into a robust economic partnership. Since March this year, both countries have rolled out a series of measures to facilitate border trade, including easing customs procedures, formalising Taftan as a customs station, and notifying new transit routes…
The Vice President of the Iranian Chamber of Commerce and Industry, leading a delegation of economic activists from the country, left for Islamabad with the aim of attending the Iran-Pakistan Joint Trade Committee.
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