Pakistan Iran reaffirm $10B trade target

Pakistan and Iran concluded the 10th session of the Pakistan-Iran Joint Trade Committee in Islamabad, co-chaired by Commerce Minister Jam Kamal Khan and Iranian Minister of Industry, Mine and Trade Mohammad Atabak. Both sides reaffirmed their commitment to achieving the shared target of US$10 billion in annual bilateral trade. They signed the Agreed Minutes reflecting understandings on expanding collaboration in commerce, investment, and private-sector engagement. Progress was welcomed on the proposed Pakistan-Iran Free Trade Agreement, including rules of origin, tariff-reduction modalities, and product lists. The meeting also focused on expanding barter trade, strengthening business-to-business linkages, promoting industrial cooperation, activating joint border markets, and improving trade facilitation, customs coordination, transport, logistics, and border infrastructure. Iran expressed interest in expanding trade and logistics cooperation through the ports of Pakistan — Karachi and Pakistan — Gwadar. Both ministers emphasized sustained coordination and timely implementation of decisions before the next Joint Trade Committee meeting.