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Pakistan, Iran agree to boost road, rail infrastructure

Pakistan and Iran have agreed to enhance interconnectivity through improved road and rail infrastructure and port development. This was affirmed during a meeting between Federal Minister for Commerce Jam Kamal Khan Iran's Minister of Industry, Mine and Trade Seyed Mohammad Atabak. He added that since the visit of Iran's President Masoud Pezeshkian to Pakistan, their bilateral trade has improved.

Two more joint border markets: Jam urges Iran to fast-track operationalisation[1] "Our trade target of £10 billion is achievable by our mutual efforts, and enhanced people to people contact," the Iranian minister said. In reply Minister Kamal said, "It is a testimony of the trust of the Government of Iran on Pakistan.

The consistent visits on both sides show our progressive approach to achieve our trade target," he said. He added that the upcomong meeting of Joint Economic Commission (JEC) will chalk out the ways to remove the impediments to facilitate trade activities. "Our trade figures have reached £3 billion which is very heartening."

The two ministers also stressed the need of barter trade. The signing of Free Trade Agreement (FTA) and activation of border markets is very crucial to enhance trade, the commerce minister emphasized. Both shared that they are working on the finalization of list of commodities.

Minister Kamal also mentioned that as per vision of Prime Minister Shehbaz Sharif, the private sector is being facilitated to enhance trade volume. He said that a significant rise in the export of Pakistani rice and meat to Iran is seen in recent months. In August, Pakistan and Iran committed to significantly strengthening their economic partnership, setting a target to raise bilateral trade to £10 billion.[2]

The two countries signed 12 agreements and memoranda of understanding (MoUs) covering trade, energy, connectivity, and cultural cooperation.

References

  1. ^ Two more joint border markets: Jam urges Iran to fast-track operationalisation (www.brecorder.com)
  2. ^ raise bilateral trade to £10 billion. (www.brecorder.com)