KARACHI: Following the recent ceasefire agreement with the United States, Iran is planning to significantly broaden its trade partnerships with Pakistan.
In the last couple of months, Iran’s second-largest trade delegation visited the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), where they signed agreements aimed at developing LPG storage facilities and attracting investment into Pakistan.
FPCCI President Muhammad Ali Haider stated that these accords were signed during meetings which included Iranian stakeholders from mining industries and rice importers. He further noted that with the ceasefire now in effect, the aim is to escalate bilateral trade to a target of $10 billion.
In addition, Iran has offered Pakistan the opportunity to access Central Asian markets.
In Islamabad, the Iranian ambassador met with Federal Investment Minister Kaysar Ahmad. The minister gave assurances that all relevant government departments would collaborate to address and resolve any remaining issues.
The discussion also covered Iran’s proposal to facilitate Pakistan’s access to Central Asia, reaffirming both nations’ commitment to boosting trade to the $10 billion mark.
Kaysar Ahmad Sheikh highlighted that the two countries agreed to enhance economic cooperation through joint initiatives. One such plan includes increasing the number of border crossings to 2,000 per day to facilitate smoother cross-border trade.
The joint statement expressed appreciation for the leadership of Prime Minister Shehbaz Sharif and Field Marshal Asim Munir in steering these efforts forward.
