Pakistan, Iran plan trade target of $5 billion in the next 5 years

A five-year trade cooperation plan has been prepared by Pakistan and Iran, with a trade target of $5 billion.
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“The five-year plan is aimed at removing impediments on bilateral trade, finalization of the Free Trade Agreement and establishment of institutional linkages between our respective private sectors,” Foreign Minister Bilawal Bhutto Zardari said at a joint press appearance along with his Iranian counterpart Hossein Amir after the two had held wide-ranging talks.

The foreign minister also said Pakistan’s vision for greater enhanced trade was fully aligned with Iranian President Ebrahim Raisi’s policy of the neighbourhood first. “To this end, we have agreed to prioritize operationalization of the five remaining border markets by the end of this year,” he said.

Iran’s Foreign Minister said the two sides were fully committed to increasing the bilateral trade to USD 5 billion. “We have agreed to set up a special economic free trade region along the common border points,” he said. He also emphasized the completion of the Pakistan-Iran gas pipeline which would definitely serve the national interests of the two countries.

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