Pakistan and Iran on Thursday, August 3, 2023 unveiled a comprehensive five-year trade cooperation plan with the aim of increasing bilateral trade to $5 billion, as the two countries seek to enhance economic ties and collaboration.
The plan was announced during a joint press stakeout by Pakistani Foreign Minister Bilawal Bhutto Zardari and his Iranian counterpart Hossein Amir Abdollahian, following a meeting and delegation-level talks between the leaders.
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Foreign Minister Bilawal Bhutto Zardari expressed confidence that the measures taken through this plan would pave the way for a long-lasting economic partnership between the two nations in the coming months and years. He highlighted the key objectives of the plan, which include removing barriers in bilateral trade, finalizing a Free Trade Agreement, and fostering institutional linkages between the private sectors of both countries.
One of the main points of discussion was the operationalization of the five remaining border markets by the end of the current year, aimed at facilitating trade and commercial activities at the border between Pakistan and Iran.
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The issue of prisoners was also addressed during the talks. Both countries agreed to repatriate all sentenced prisoners according to the provisions of existing agreements. Moreover, the governments decided to release fishermen held in custody and waive off any fines imposed by authorities of either country for the release of their vessels. To expedite this process, the two sides will exchange lists of prisoners.
The leaders also discussed the human rights situation in the Indian Illegally Occupied Jammu and Kashmir. Foreign Minister Bilawal Bhutto Zardari expressed gratitude to Iran for its unwavering support for the legitimate cause of the Kashmiri people.
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On the topic of Afghanistan, both countries pledged to maintain active engagement to promote peace and stability in the neighboring country, with the aim of ensuring the well-being and prosperity of the Afghan people.
Another important point of agreement was the commitment to cooperate in countering Islamophobia and anti-Muslim hatred. Both ministers condemned the series of Islamophobic acts in Europe and emphasized the need to address such provocations that can lead to violence.
Iranian Foreign Minister Hossein Amir Abdollahian highlighted the importance of enhanced bilateral cooperation in the fields of economy, trade, and tourism. He expressed Iran’s commitment to work towards achieving the $5 billion trade target and proposed the establishment of a special economic free trade region along the common border points.
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Both leaders also emphasized the completion of the Pakistan-Iran gas pipeline, noting its significance in serving the national interests of both countries.
During the meeting, agreements and memorandums of understanding were signed to foster cooperation in various fields between Pakistan and Iran.
The talks signify a renewed effort by both Pakistan and Iran to strengthen their economic and diplomatic ties and promote regional stability and prosperity. The plan, with its focus on boosting trade and addressing mutual concerns, lays the groundwork for a promising future for the two neighboring nations.
