ISLAMABAD - Pakistan and Iran expressed their desire to finalise and sign the Free Trade Agreement (FTA) within the next six months   to increase bilateral trade.

Two sides decided to work together to operationalise the Barter Trade as per the agreement signed between Quetta and Zahedan Chambers. Both sides further agreed to discuss removal of tariff and non-tariff barriers to enhance bilateral trade.

The 21st Session of Pak-Iran Joint Economic Commission was hosted by Pakistan from August 16-18, 2022. Iranian delegation was led by Rostam Ghasemi, Minister of Roads and Urban Development of the Islamic Republic of Iran whereas the Pakistani delegation was headed by Syed Naveed Qamar, Federal Minister for Commerce.

Moreover, in order to facilitate trade an additional border crossing point at Gabd (near to Gwadar)-Reemdan has recently been operationalised by Pakistan. In addition, the purpose of agreement on international transport between Pakistan and Iran aims to facilitate trade traffic from Turkey to Pakistan through Iran, while Iranian goods and passengers can have access to China through Pakistan. Pakistan will have the benefits of access to other Central Asian Republics and Europe through Turkey with operationalisation of the decisions taken in the 21st session of JEC.

During the meetings, Federal Minister for Commerce, Syed Naveed Qamar said that Pakistan and Iran enjoy multi-dimensional relations. Pakistan highly values its friendly and brotherly relationship with neighbouring country Iran.    Economic Affairs Division Secretary, Mohammad Humair Karim and other senior officers   were also present. Naveed Qamar said that   Pakistan is committed to take all possible measures to increase the bilateral trade volume to the level of $5 billion.

Both sides sign 3 MoUs in fields of maritime, museum & information broadcasting

On the sidelines of the JEC, the apex Chambers of Commerce from the two sides decided for more frequent business to business integrations.

Syed Naveed Qamar further stated that the Quetta-Taftan Road is trafficable, however for further improvement of road various, projects are being undertaken. He stressed upon the need of making visa conditions easier to facilitate the Pakistani traders and visitors.

Iranian Minister Rostam Ghasemi   appreciated the hard work by both sides   to make this session successful and invited the Pakistani side to Tehran for 22nd Session of JEC to be held in next year.

The Iranian minister apprised his counterpart that Iran strongly belief in further cooperation and enhancement of relations by improving regional pragmatic method to increase opportunity for enhancing bilateral relations.

While giving his closing remarks, the Federal Secretary for Economic Affair, Muhammad Humair Karim   apprised that during the 21st Session of Pak-Iran JEC, three MoUs were signed in the fields of maritime, museum and information broadcasting which would help strengthening cooperation between the two brotherly countries.