Pakistan and Iran aim for $10 billion trade in major economic boost
Pakistan and Iran have agreed to strengthen their economic partnership by boosting trade, improving cross-border connectivity and removing barriers affecting businesses. The commitment was made during the 10th Pakistan-Iran Joint Trade Committee (JTC) meeting held in Islamabad.
The meeting was jointly chaired by Pakistan’s Commerce Minister Jam Kamal Khan and Iran’s Minister of Industry, Mine and Trade Mohammad Atabak. Both sides discussed practical steps to increase trade, attract investment and improve regional cooperation.
Pakistan and Iran target $10 billion in trade
During the meeting, both countries reaffirmed their goal of increasing bilateral trade to $10 billion in the coming years.
Commerce Minister Jam Kamal Khan said Pakistan and Iran already enjoy strong political, cultural and religious ties, and these relationships should now be transformed into a stronger economic partnership.
He stressed the need to remove obstacles affecting cross-border trade, including issues related to customs procedures, border logistics and cargo transportation.
According to the minister, simplifying trade procedures would encourage businesses from both countries to expand commercial activities and strengthen regional trade.
Free Trade Agreement remains a key priority
Jam Kamal Khan called for the early completion of negotiations on the Pakistan-Iran Free Trade Agreement.
He said the agreement would help increase trade volumes, reduce business costs and create new opportunities for exporters and investors in both countries.
The commerce minister also proposed expanding joint border markets and introducing an Electronic Data Interchange (EDI) system to improve customs operations and make trade more efficient.
He added that private businesses in Pakistan and Iran are ready to increase commercial cooperation if both governments continue to provide a stable and business-friendly environment.
According to Jam Kamal Khan, the 10th Joint Trade Committee meeting is expected to produce a practical roadmap for future economic cooperation.
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Iran highlights ports and regional connectivity
Iran’s Minister of Industry, Mine and Trade Mohammad Atabak described Pakistan as one of Iran’s important long-term strategic trade partners.
He expressed interest in expanding regional trade by making greater use of Pakistan’s Karachi and Gwadar ports, which could improve trade routes and logistics between the two neighbouring countries.
The Iranian minister also expressed hope that negotiations on the Free Trade Agreement would be completed soon.
He identified electricity trade, regional connectivity and logistics as important sectors that could create new economic opportunities for both Pakistan and Iran.
