Pakistan, Iran reaffirm goal to boost bilateral trade to $10 billion

The pledge was made during the 10th session of the Pakistan-Iran Joint Trade Committee, where representatives from both countries reviewed trade

ISLAMABAD: Pakistan and Iran have reaffirmed their commitment to expanding bilateral trade to $10 billion, underscoring their determination to strengthen economic cooperation and deepen commercial ties.

The pledge was made during the 10th session of the Pakistan-Iran Joint Trade Committee, where representatives from both countries reviewed trade relations and explored measures to enhance economic collaboration.

Addressing the meeting, Pakistan’s Federal Minister for Commerce, Jam Kamal Khan, said the longstanding brotherly relationship between Pakistan and Iran should now be transformed into a robust economic partnership. He emphasized the importance of finalizing the proposed Pakistan-Iran Free Trade Agreement, saying it would open new opportunities for businesses and significantly increase trade between the two neighboring countries.

The minister stressed the need to remove barriers affecting cross-border logistics, customs procedures, and cargo transportation to ensure smoother and more efficient trade flows. He also highlighted the potential of establishing joint border markets and implementing an electronic data interchange system to facilitate commerce and improve connectivity.

Jam Kamal Khan noted that the private sectors of both countries are ready to expand trade and investment, adding that it is the responsibility of governments to provide a stable, business-friendly, and predictable environment that encourages commercial activity.

He expressed confidence that the outcomes of the Joint Trade Committee meeting would produce a practical roadmap for strengthening Pakistan-Iran economic relations and accelerating progress toward the shared trade target of $10 billion.