Pakistan, Iran agree to enhance economic cooperation

Pakistan and Iran have agreed to promote border trade by improving facilities, keeping border crossings open round the clock, strengthening logistics, and harmonising customs procedures.

The agreement was reached during a meeting between Prime Minister Shehbaz Sharif and a six-member Iranian delegation led by Iran’s Minister of Industry, Mines and Trade, Seyyed Mohammad Atabak, which called on him in Islamabad on Wednesday, state-run Radio Pakistan reported.

The two sides also agreed to enhance cooperation in the mining sector, particularly in the processing and value addition of precious stones.

In his remarks, PM Shehbaz reaffirmed that Pakistan attaches great importance to its relations with Iran. He reiterated that Pakistan would continue its efforts for peace in the region.

Referring to his recent discussion with Iranian President Masoud Pezeshkian, PM Shehbaz said they exchanged views on promoting lasting peace in the region and further strengthening Pakistan-Iran bilateral relations, particularly in the field of trade.

He expressed confidence that sustained efforts would help achieve the bilateral trade target of $10 billion set by the leadership of both countries. The premier added that enhanced trade, especially in food and agricultural commodities and products, would benefit both nations.

Speaking on the occasion, the Iranian minister commended the Pakistani leadership and people for their diplomatic efforts to promote regional peace and for expressing solidarity with Iran.

Seyyed Mohammad Atabak said Iran is keen to further expand economic and trade relations with Pakistan.

He added that technical-level negotiations on a Free Trade Agreement between the two countries are currently under way.