Pakistan-Iran to Breakthrough Trade to 5 B$
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With the country’s recession stuck in a downcast direction, Pakistan’s minister to Iran Mudassir Tipu said that the two countries are ready to increase their bilateral trade to$ 5 billion.
In a statement, the minister recalled the five- year testimony on strategic and profitable cooperation inked between the two countries and reiterated Islamabad’s commitment to prioritise the creation of trade relations with Tehran.
The document, 2023- 28 trade cooperation agreement, appertained by the envoy was inked in August 2023 and aims to address hurdles in bilateral trade and the finalisation of the Free Trade Agreement (FTA) along with the establishment of institutional relations between private sectors of the neighbouring states.
The envoy’s reflections came during a visit to the Iranian harborage of Bandar Abbas on the occasion of Pakistan Navy vessels being docked at the First Naval Region of the Iranian army — a emblematic move aimed at representing peace, fellowship, and strengthening of friendly relations between the two nations.
Ambassador of Pakistan in his address welcoming port calls of two naval ships underlined that Pakistan and Iran🇵🇰🇮🇷 would continue to deepen and widen their ties to promote peace & stability in region . pic.twitter.com/Nh0MCpFmNV
— Pakistan Embassy Iran (@PakinIran) January 14, 2024
The Pakistani gesture also aims to further ameliorate education- related excercise and relations with Iran.
Speaking on bilateral relations between the two neighbouring states, the envoy underlined that Pakistan- Iran relations carry a information of solidarity, peace, and happiness to the region as the two countries remain devoted to maintaining peace and stability in the region.
It’s material to mention that the two neighbouring countries have a history of profitable relations and rich artistic exchanges with a large number of Pakistani zaireen( pilgrims) — estimated to be around0.7 million — travelling to Iran every year.
Revised bilateral trade has the implicit to be of consummate significance for Pakistan as it might ease Pakistan’s worsening profitable adversity.
Previous year, former PM Shehbaz Sharif and Iranian President Ebrahim Raisi inaugurated the” Mand- Pishin Border Sustenance Marketplace” and” 220 kV Polan- Gabd Electricity Transmission Line” systems as palpable instantiations of cooperation between the two countries.
Islamabad has been seeking to enhance bilateral trade with its associates , especially neighbouring countries, to attack its collapsing economy that has redounded in rampant affectation and sky-high energy and goods prices due to deteriorating fiscal pointers especially after the massive cataracts that reported caused$ 30 billion in losses.
