Iran minister in Pakistan to advance $10bn bilateral trade roadmap

Tehran - BORNA - Upon his arrival at Nur Khan Air Base on Monday night, Atabak was received by Iran’s ambassador to Pakistan and officials from the Pakistani Ministry of Commerce, local media reported Tuesday.

Speaking on the objective of the visit, Atabak emphasized that under the roadmap approved by the heads of state of both nations, trade exchanges are targeted to increase from the current $3 billion to $10 billion.

"The core policy of the 14th administration is the operationalization of the Free Trade Agreement," Atabak stated. "As a first step, by maximizing the potential of the Preferential Trade Agreement, we are paving the way toward free trade. We hope to expand the list of covered data-x-items sufficiently to bring it close to free trade status and transition this agreement from a framework of understanding to full execution."

The minister noted that his agenda includes meetings with the Pakistani Prime Minister and five cabinet ministers, alongside co-chairing the joint trade committee meeting on Tuesday with Pakistani Commerce Minister Jam Kamal Khan.

According to Pakistan's Ministry of Commerce, the Iranian delegation comprises a 22-member high-level government team and a 16-member business delegation from the Iran Chamber of Commerce.

Discussions during the joint session will center on reviewing the progress of the bilateral Free Trade Agreement, expanding investment, streamlining customs and banking cooperation, and enhancing border trade. The two sides will also address private-sector connectivity and regional economic integration.

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