In historic visit, Iranian President Raisi says decision made to increase bilateral trade five-fold to $10bn

TEXT: Iranian President Dr Ebrahim Raisi said a key decision to increase bilateral trade volume to $10 billion has been reached as he addressed a high-profile joint press conference with Pakistan Prime Minister Shehbaz Sharif in Islamabad on Monday.

Iranian President Dr Ebrahim Raisi said a key decision to increase bilateral trade volume to $10 billion has been reached as he addressed a high-profile joint press conference with Pakistan Prime Minister Shehbaz Sharif in Islamabad on Monday.

“In our meeting today, we (have) decided to promote bilateral relations between the two countries including political, economical, trade, cultural and others as far as possible,” said Raisi who arrived in Pakistan earlier during the day amid stringent security measures.

“You will probably find some individuals who do not favour expansion and good bilateral relations between us but who cares – it is not important. We believe it is important to expand relations between our countries,” added the Iranian president.

“We have decided as a first step to increase trade volume between our two countries to $10 billion.”

The two sides – which currently have bilateral trade of over $2 billion – also held a meeting earlier, and agreed on joint efforts to eradicate terrorism.

“The entire Pakistani nation welcomes the visit of the Iranian President,” Radio Pakistan quoted the PM as saying.

In his address, PM Shehbaz said that the two sides discussed religious, security and historic matters during their meeting.

“Today is an opportunity to make this friendship a happy and prosperous one.”

Pakistan, Iran sign eight accords

Meanwhile, Pakistan and Iran signed eight accords on varying subjects to enhance cooperation in the different fields including trade, science technology, agriculture, health, culture, and judicial matters.

PM Shehbaz and President Raisi witnessed the ceremony as the representatives from both sides signed the documents, state-run APP reported earlier.

“The two sides will have a wide-ranging agenda to further strengthen Pakistan-Iran ties and enhance cooperation in diverse fields including trade, connectivity, energy, agriculture, and people-to-people contacts,” the FO said.

“They will also discuss regional and global developments and bilateral cooperation to combat the common threat of terrorism,” it added.

Copyright Business Recorder, 2024