ISLAMABAD: Pakistan and Iran on Wednesday agreed to expedite finalisation of the Pakistan-Iran Free Trade Agreement (FTA), making progress on key areas including rules of origin and tariff-reduction modalities.
The understanding was reached at the 10th meeting of the Pakistan-Iran Joint Trade Committee (JTC), where both sides signed agreed minutes reaffirming their commitment to enhance bilateral trade to USD 10 billion and fast-track economic cooperation across multiple sectors.
Both countries emphasised the need for practical and time-bound steps to boost bilateral trade and investment.
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During the three-day negotiations, the two sides reached consensus on strengthening business-to-business (B2B) linkages and enhancing direct interaction between private sectors. They underscored the importance of increasing exchanges of trade delegations and fostering closer cooperation between business communities.
The delegations also agreed to expand and streamline the barter trade mechanism to make it more effective, particularly in view of existing financial and banking constraints.
Special focus was placed on promoting border trade and generating economic opportunities for local populations. In this regard, both sides agreed to expedite operationalisation of the Cheedgi–Kohak border market and improve the performance of joint border markets through dedicated joint management committees.
Pakistan and Iran further agreed to boost trade in agricultural and horticultural products by facilitating market access and addressing non-tariff barriers. Improving transport, logistics and border connectivity also remained key priority areas.
The meeting also reviewed progress on the proposed FTA, including product lists, rules of origin and tariff-reduction mechanisms.
Both sides agreed to enhance trade facilitation, customs coordination, transport and logistics infrastructure to ensure smooth movement of commercial cargo, particularly perishable goods.
Federal Minister for Commerce Jam Kamal Khan said the agreed measures would help transform longstanding brotherly relations into stronger economic cooperation.
Iranian Minister for Industry, Mine and Trade Dr Mohammad Atabak reaffirmed his country’s commitment to removing trade barriers and expanding bilateral economic relations.
The meeting concluded with a resolve to ensure timely implementation of all agreed decisions, with technical committees from both sides tasked to pursue follow-up actions.
The 10th JTC meeting marked a significant step towards strengthening economic ties between the two neighbouring countries and advancing regional trade integration.
Copyright Business Recorder, 2026
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