Iran aims to elevate trade to a $10 billion scale
Iranian President Dr. Masoud Pezeshkian is currently on a two-day official visit to Pakistan, marking his first visit as President of Iran. The visit aims to strengthen economic ties and expand bilateral trade between the two neighbouring countries.
During his stay, President Pezeshkian will meet President Asif Ali Zardari and hold delegation-level talks with Prime Minister Shehbaz Sharif on Sunday. The discussions are expected to focus on follow-up discussions on trade agreements, joint border markets, and other matters discussed during Ebrahim Raisi's visit last year.
In a significant move, Pakistan and Iran signed 12 agreements and memoranda of understanding (MoUs) aimed at enhancing bilateral trade and cooperation across multiple sectors. The agreements cover cooperation in fields such as scientific and technological exchange, transportation, judicial matters, industry, economic and trade collaboration, tourism, agriculture, plant protection and quarantine, information and communication technology, culture, youth, mass media, meteorology, maritime safety and firefighting, and certification and inspection of products.
Notably, there was a focus on the joint use and facilitation of activities at the Mirjaveh-Taftan border gate, a shared border crossing point, to enhance trade flows and border market cooperation. There was also a joint ministerial statement expressing intent to finalize a Free Trade Agreement between the two countries.
The agreements mark a strategic push to deepen economic ties and regional synergy between Iran and Pakistan. The key trade goal agreed upon was to increase the bilateral trade volume substantially—from the current approximately USD 3 billion annually to a target of USD 8 to 10 billion.
Security has been tightened across key venues in Islamabad to safeguard the visiting delegation, with elaborate security arrangements made for the visit of the Iranian delegation.
Prior to his departure, President Masoud Pezeshkian expressed that trade relations between Tehran and Islamabad are strong and plans to elevate their annual trade exchanges to $10 billion. He identified the Silk Road linking China and Pakistan as a priority for this trip, as it can extend through Iran to Europe.
During his visit, Pezeshkian visited the mausoleum of Allama Dr Muhammad Iqbal and offered 'Fateha.' He also highlighted the importance of boosting border trade with Pakistan via land, air, and sea. Pezeshkian emphasized that regional security must be achieved through mutual cooperation.
President Pezeshkian was warmly received by PML-N President Nawaz Sharif and Punjab Chief Minister Maryam Nawaz earlier in the day. Prime Minister Shehbaz Sharif, Deputy Prime Minister and Foreign Minister Ishaq Dar, and Information Minister Attaullah Tarar received President Pezeshkian at Nur Khan Air Base.
In a show of solidarity, President Pezeshkian stated that Pakistan strongly condemned the recent aggression by the Israeli regime and the US against Iran's soil and declared its readiness to provide any necessary support for Iran's territorial integrity.
Two children presented a bouquet to the visiting president, and the Iranian President recorded his impressions for Allama Iqbal's literary legacy in the visitors' book.
These steps reflect a broad, multi-sectoral approach to deepen Iran-Pakistan economic ties during President Pezeshkian's visit. Strengthened cooperation was also pledged for combating militancy and terrorism along their shared border. Regional coordination is becoming increasingly vital amid shifting geopolitical dynamics.
[1] https://www.dawn.com/news/1671856 [2] https://www.geo.tv/latest/326899-iranian-president-masoud-pezeshkian-arrives-in-pakistan-on-two-day-visit [3] https://www.thenews.com.pk/latest/1338922-iranian-president-masoud-pezeshkian-arrives-in-pakistan-on-two-day-visit [4] https://www.dawn.com/news/1671868 [5] https://www.geo.tv/latest/326943-iranian-president-dr-masoud-pezeshkian-meets-pm-shehbaz-sharif-in-islamabad
- President Pezeshkian's meeting with President Asif Ali Zardari and Prime Minister Shehbaz Sharif on Sunday will likely incorporate discussions on the general news topic of trade agreements between Iran and Pakistan.
- In line with Iran's political agenda, President Pezeshkian expressed support for Pakistan during his visit and strongly condemned the recent aggression by the Israeli regime and US against Iran's soil.
