Pak-Iran FTA vital for strengthening bilateral trade, says FM Dar

Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar on Sunday said Pakistan-Iran Free Trade Agreement (FTA) and platforms like the Business Forum are vital for strengthening bilateral trade and promoting collaboration across key sectors, including energy, agriculture, manufacturing, and technology.

The foreign minister said this addressing the Pakistan-Iran Business Forum in Islamabad, in the presence of President of Iran Masoud Pezeshkian and the accompanying high-level delegation, the Foreign Office said.

Reaffirming the deep-rooted brotherly ties between Pakistan and Iran, the FM underscored Pakistan’s commitment to enhancing economic cooperation and regional connectivity. He welcomed the positive momentum toward finalising the Pakistan-Iran FTA.

“The economic diplomacy is a cornerstone of Pakistan’s foreign policy,” he emphasised.

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He also highlighted the importance of deepening people-to-people linkages to ensure the shared prosperity of both countries.

Meanwhile, Pakistan and Iran have signed several key Memoranda of Understanding (MoUs) during the Iranian president’s ongoing visit, which would soon be formalised as binding agreements.

According to state-run Radio Pakistan, a total of 12 agreements and MoUs were exchanged for the promotion of bilateral cooperation in diverse fields.

The exchange ceremony was held in Islamabad in the presence of Prime Minister Shehbaz Sharif and Iran’s Pezeshkian.

The agreements and MoUs included cooperation for plant protection and plant quarantine, joint use of Mirjaveh-Taftan border gate, collaboration in science, technology and innovation, cooperation in information and communications technology, exchange programs for culture, art, tourism, youth, mass media and exports, cooperation in meteorology, climatology and related hazards.

MoUs were also signed on maritime safety and firefighting, judicial assistance in criminal matters, a supplemental MoU to an MoU in 2013 related to air services agreement, MoU on recognition of products certification, inspection and testing, tourism cooperation for 2025-27 and a joint ministerial statement on the intent to finalise Free Trade Agreement.

“Our target is to raise bilateral trade to $10 billion, and we will achieve this soon,” PM Shehbaz said, adding that Pakistan and Iran share a common vision on combating terrorism and ensuring regional peace and development.