Pakistan and Iran have surpassed a milestone in their economic relations with the volume of bilateral trade exceeding $2 billion for the first time in history. This was announced by the outgoing Ambassador of the Islamic Republic of Iran to Pakistan, Syed Mohammad Ali Hosseini, during a farewell meeting with Federal Minister for Economic Affairs Sardar Ayaz Sadiq at the Ministry of Economic Affairs on Tuesday.
During the meeting, the ambassador informed the minister that Iran is set to inaugurate numerous projects, including an electricity transmission project, a trial run of the border market, and other projects that are expected to be completed in the near future.
According to the ambassador, Iran is currently exporting 144 MW of electricity to Pakistan, with plans to double that figure upon completion of power projects in Pakistan. He also added that Iran has the potential to export 500 MW of electricity to Pakistan.
Ambassador Hosseini expressed his gratitude for the warm hospitality and support he received during his tenure in Pakistan. He also reiterated Iran’s commitment to further enhancing economic relations between the two countries and expressed confidence that his successor would continue the positive momentum.
Despite facing pressure, Hosseini said that Iran has a strong resolve in all areas. He informed the minister that the volume of bilateral trade between Pakistan and Iran exceeded $2 billion for the first time in history, indicating the growing strength of their economic ties.
The positive development is a promising sign for the future of Pakistan-Iran relations, which have historically been characterized by both cooperation and conflict. With Iran investing in infrastructure projects in Pakistan and a growing trade volume, the two countries are poised to build a more stable and prosperous economic partnership in the coming years.
