Pakistan and Iran agree to raise bilateral trade volume to $10 billion

Pakistan and Iran have reiterated their commitment to enhancing bilateral economic cooperation and promoting cross-border trade,

Pakistan and Iran have reiterated their commitment to enhancing bilateral economic cooperation and promoting cross-border trade, agreeing to increase the volume of mutual trade to $10 billion.

According to an official statement issued by the Board of Investment, Iran’s Ambassador to Pakistan, Reza Amiri Moghaddam, met with Federal Minister for the Board of Investment, Qaiser Ahmed Sheikh. During the meeting, both sides discussed various aspects of bilateral economic relations, investment opportunities, and border trade.

During the discussion, Federal Minister Qaiser Ahmed Sheikh assured the Iranian ambassador that Pakistan would extend full cooperation with relevant ministries and institutions to address any obstacles hindering bilateral economic cooperation. He emphasized that the government is committed to facilitating a smoother and more efficient environment for trade and investment between the two neighboring countries.

The two sides also stressed the importance of increasing border trade and improving mechanisms to facilitate the movement of goods across shared borders. In this regard, they discussed a proposal to increase the number of commercial trucks crossing the border daily to up to 2,000, a step that would significantly boost trade flow and reduce logistical bottlenecks.

During the meeting, both Pakistan and Iran reaffirmed their decision to expedite the operationalization of the Rimdan-Gabd Special Economic Zone. This project is considered a major milestone in strengthening economic integration and regional connectivity between the two countries. Officials believe that once fully functional, the zone will serve as a key hub for trade, investment, and industrial cooperation in the border region.

The statement further noted that the leadership of Prime Minister Shehbaz Sharif and General Asim Munir was also acknowledged and appreciated during the discussions. Both delegations recognized the importance of strong political and institutional leadership in advancing bilateral relations and ensuring continuity in economic cooperation.

The two countries expressed a shared resolve to take bilateral trade, investment, and regional connectivity to new heights by expanding cooperation in multiple sectors. They emphasized that strengthening economic ties would not only benefit Pakistan and Iran but also contribute to broader regional stability and prosperity.

Officials from both sides highlighted that improving infrastructure, simplifying trade procedures, and encouraging private sector participation would be essential for achieving the ambitious $10 billion trade target. They also agreed on the need for sustained dialogue and regular coordination to resolve issues and monitor progress on agreed initiatives.

Overall, the meeting reflected a renewed momentum in Pakistan-Iran relations, with a strong focus on economic integration, border development, and long-term strategic partnership.