On Thursday, Pakistan and Iran defined a bilateral trade goal of $5 billion, formulating a five-year trade cooperation strategy to intensify ties.
Foreign Minister Bilawal Bhutto-Zardari explained the plan’s focus on removing trade obstacles, concluding a Free Trade Agreement, and fostering institutional connections between both nations’ private sectors. He was confident these measures would solidify an enduring economic partnership between Pakistan and Iran. Among the agreed initiatives was activating five remaining border markets by year-end.
Addressing Regional Issues and Islamophobia
During the meeting, the leaders also discussed the severe human rights situation in India Illegally Occupied Jammu and Kashmir (IIOJK), with Bhutto-Zardari thanking Iran for its consistent support of the Kashmiri cause. In the context of Afghanistan, they committed to continued engagement to foster peace and stability. Additionally, they pledged to combat Islamophobia and anti-Muslim hatred, recognizing the increase in such incidents across Europe.
Enhancing Bilateral Economic Ties
Iranian FM Hossein Amir Abdollahian highlighted commitments to boosting bilateral trade to $5 billion and establishing a special economic free trade area along shared border points. Immediate actions will be taken for the release of fishermen and their vessels. He further stressed the importance of completing the Pakistan-Iran gas pipeline to serve both nations’ interests.
The Iranian FM also voiced sympathy with Pakistan over the recent terrorist attack in Bajaur and stressed the humanitarian responsibility to support Afghanistan, acknowledging its impact on neighbouring countries.
Finally, the leaders formalized their commitments with agreements and MoUs on cooperation across various sectors.
