ISLAMABAD, Aug 04 (Alliance News): Pakistan and Iran on Sunday reaffirmed their commitment to boosting bilateral trade to $10 billion by 2028, as top officials from both nations addressed the Pakistan-Iran Business Forum in Islamabad, held during the official visit of Iranian President Dr. Masoud Pezeshkian.
Federal Minister for Commerce Jam Kamal Khan, welcoming the high-level Iranian delegation, stressed Pakistan’s strong resolve to expand economic cooperation with Iran.
“As someone from Balochistan, I know firsthand how vital cross-border trade with Iran is for our region’s livelihood,” he noted, underscoring the historical, cultural, and geographical ties binding the two nations.
The event featured speeches from President Pezeshkian and Pakistan’s Deputy Prime Minister Ishaq Dar, highlighting the political will on both sides to deepen economic engagement.
Iran’s Minister of Industry, Mining, and Commerce, Mohammad Atabak, also addressed the gathering, expressing Iran’s keen interest in expanding trade and establishing joint ventures with Pakistan.
Jam Kamal emphasized the recent reactivation of the Mand-Pishin Joint Border Market on July 30 as a landmark achievement, calling it a “major breakthrough for regional economic integration.”
He urged Iranian authorities to expedite the opening of two additional joint border markets at Chaghi-Kouhak and Gabd-Reemdan, to benefit bordering communities.
He further announced that the Pakistan-Iran Free Trade Agreement (FTA) has been finalized, which will provide a structured framework for bilateral trade. He also pushed for the swift implementation of a barter trade mechanism to address currency exchange and payment challenges.
Other major areas of focus included the removal of non-tariff barriers, customs coordination, improved border infrastructure, and transport connectivity.
He invited Iranian investors to explore untapped opportunities in minerals, agriculture, and energy, assuring full support from the Government of Pakistan.
The Minister also revealed that both countries have agreed to expedite the next session of the Pakistan-Iran Joint Economic Commission, which will play a key role in ironing out trade challenges and expanding cooperation.
Concluding his address, Jam Kamal Khan thanked the Iranian president and accompanying dignitaries, stating, “Let us work together to translate our longstanding friendship into stronger economic ties and a future of mutual prosperity.”
