Strengthening Bilateral Trade and Economic Cooperation Between Pakistan and Iran

Pakistan and Iran have maintained strong historical and cultural ties, with bilateral trade relations playing a significant role in enhancing economic cooperation between the two neighboring countries. In a recent meeting between Federal Minister for Commerce, Jam Kamal Khan, and Iranian Ambassador to Pakistan, Reza Amiri-Moghaddam, both leaders reaffirmed their commitment to strengthening bilateral trade and economic cooperation. The meeting highlighted ongoing initiatives, trade agreements, and upcoming opportunities to further enhance economic ties between the two countries.

Key Takeaways:

• The 22nd Session of the Pakistan-Iran Joint Economic Commission was successfully organized in Islamabad, and the next session is scheduled to be held in Iran.
• The commerce minister proposed arranging high-level visits to facilitate cross-border trade and improve the livelihoods of people living in the border regions.
• Ambassador Amiri-Moghaddam highlighted the progress in bilateral trade, recalling the previous agreements for imports of 400,000 tons of rice, 300,000 tons of meat, 200,000 tons of maize, and 50,000 tons of animal feed.
• Iran has successfully completed rice imports and is now ready to purchase animal feed and maize.
• The text of the Pakistan-Iran Free Trade Agreement (FTA) is currently under internal review, with plans for presentation for official approval soon.
• Both leaders reaffirmed the strong and brotherly relations between Pakistan and Iran, rooted in shared history, culture, and mutual respect.
• They highlighted the shared vision of their leadership to achieve US$10 billion in annual bilateral trade by 2028.

Statistics:

• 400,000 tons of rice were previously agreed upon for import from Iran.
• 300,000 tons of meat, 200,000 tons of maize, and 50,000 tons of animal feed were previously agreed upon for import from Iran.
• Iran has successfully completed import of 400,000 tons of rice.
• The goal of US$10 billion in annual bilateral trade by 2028 was reaffirmed by both leaders.

Sources:

• Government of Pakistan
• Minister Jam Kamal Khan
• Iranian Ambassador to Pakistan, Reza Amiri-Moghaddam