Home » To reach $5 billion in bilateral trade by 2028, Pakistan and Iran

To reach $5 billion in bilateral trade by 2028, Pakistan and Iran

by Noor Zaman
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A five-year plan to increase bilateral trade to $5 billion was drafted by Pakistan and Iran on Thursday.

In a joint press conference with his Iranian counterpart, Hossein Amir Abdollahian, Foreign Minister Bilawal Bhutto Zardari stated that the goal of the trade cooperation plan was to remove barriers to bilateral trade, complete the Free Trade Agreement, and create institutional ties between the two countries’ private sectors.

The foreign minister announced to the media that the five-year plan would span the years 2023 to 2028 after the two presidents met and had discussions at the delegation level. He claimed that at their meeting, they decided to make operationalizing the five remaining border markets a priority by the end of 2024.

He declared that both nations were dedicated to boosting their bilateral trade to $5 billion and that they had also decided to establish a special economic free trade region along their shared border points.

Abdollahian emphasized the importance of the Pak-Iran gas pipeline’s completion and claimed that the project will benefit both nations’ national interests.

Having a meeting with the prime minister.

Prime Minister Shehbaz Sharif had a visit from the Iranian foreign minister today. The premier highlighted the close kinship links that exist between the two nations and underlined Pakistan’s commitment to fostering these relationships even further, with an emphasis on fostering closer economic cooperation.

The prime minister recalled launching the Mand-Pishin border marketplace together with President Ebrahim Raisi and emphasized that such initiatives were a physical representation of our shared desire to work as a team for the advancement of our two peoples.

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