Pakistan and Iran have formulated a five-year trade cooperation plan with the aim of achieving a bilateral trade target of $5 billion.
The plan was announced during Iranian Foreign Minister Hossein Amir Abdollahian’s visit to Pakistan, where he engaged in delegation-level talks with Pakistani Foreign Minister Bilawal Bhutto-Zardari. Both countries have reaffirmed their commitment to increasing bilateral trade and have agreed to establish a special economic free trade region along their common border points.
Additionally, the two sides have prioritized the operationalization of five remaining border markets by the end of this year. They have also decided to repatriate sentenced prisoners as per existing agreements and release fishermen from each other’s countries, waiving any fines imposed for the release of their vessels.
The issue of human rights in India-occupied Kashmir was discussed during the meeting, with the Iranian leadership expressing firm and consistent support to the legitimate cause of the people in the region.Both Pakistan and Iran have agreed to continue their active engagement on Afghanistan, aiming to advance peace, stability, and the prosperity of Afghan citizens.
Furthermore, the two countries have decided to collaborate in countering Islamophobia and anti-Muslim hatred. The Iranian foreign minister emphasized the importance of enhanced bilateral cooperation in economy, trade, and tourism, while also advocating for the completion of the Pakistan-Iran gas pipeline project.
During the visit, memoranda of understanding were signed between Pakistan and Iran in various fields, further solidifying their cooperation. Pakistani Prime Minister Shehbaz Sharif also met with the Iranian foreign minister and expressed Pakistan’s commitment to strengthen relations with Iran.
He highlighted the need to focus on economic cooperation and combating Islamophobia.The visit of the Iranian foreign minister provides an opportunity for both nations to discuss and strengthen bilateral ties, regional connectivity, and economic and investment opportunities.
The engagement is expected to foster greater trade and enhanced regional connectivity, leading to regional peace and prosperity. The visit underscores the shared priority of collectively working for the betterment of the people of both Pakistan and Iran and leveraging their unique geographical location for mutual benefits.