Prime Minister Muhammad Shehbaz Sharif has announced an ambitious plan to expand Pakistan-Iran bilateral trade from the current $3 billion to $10 billion in the coming years, citing significant growth potential between the two neighbors.
In an interview with Iran’s official news agency IRNA ahead of his visit to Tehran on Monday, the prime minister highlighted the upward trend in trade relations over the past three to four years. “We want to take it up to $10 billion in the next few years, but I think the potential is much larger than that as well. We are discussing signing a free trade agreement (FTA). I think in the next ten years, the trade volume between the two countries will expand a great deal. The need is to have sustained economic engagements for the long term between Pakistan and Iran,” IRNA quoted Shehbaz Sharif as saying.
He emphasized the strategic importance of the shared 900-kilometer border between the two nations and its role in fostering economic and regional stability. “I personally believe that strong economic linkage between Pakistan’s Balochistan and Iran’s Sistan-Baluchestan can be good for the entire region. It can also be very effective in dealing with terrorism,” he stated.
The prime minister noted that both sides had signed multiple memoranda of understanding aimed at initiating development projects between the bordering provinces, stressing once again the importance of long-term economic collaboration.
Addressing the context of his visit, Shehbaz Sharif said he was traveling to Iran at the invitation of President Masoud Pezeshkian, with a key purpose being to express gratitude for Iran’s support during Pakistan’s recent confrontation with India. “The principal objective of my visit is to thank Iran for supporting and standing by us during our conflict with India. India, as you know, imposed war on us, which we repulsed through a decisive but measured and well-calibrated response consistent with international humanitarian law. So, I want to thank Iranian leadership for its support and its offer for mediation, which we accepted but India rejected,” he said.
During his stay in Tehran, the prime minister said, he would also hold discussions on bilateral ties and other issues of mutual interest. He lauded the “excellent bilateral ties between the brotherly countries,” affirming that both Islamabad and Tehran would continue to support each other on matters concerning the Muslim world and broader regional cooperation.
On the subject of regional conflicts, the premier reiterated Pakistan’s consistent stance on the unresolved issues of Kashmir and Palestine. “I strongly believe there could be no peace and justice in the region till resolution of Kashmir and Palestine issues,” he said. “It is critically important that these issues should be resolved in accordance with the aspirations of the Kashmiri and Palestinian people.”
Commenting on ongoing Iran-US negotiations, Shehbaz Sharif expressed confidence in diplomacy as the most viable path forward. “They believed that negotiations, diplomacy and engagement were the best solutions because, in this way, they could avoid conflicts and wars,” he said. “It is important to promote peace, development and security in the region. I have great faith in Iran’s leadership. I am quite hopeful that positive things will come out of these negotiations. On behalf of Pakistan, I wish peace and stability prevailing in the region.”
Finally, the prime minister expressed appreciation for Iran’s offer to mediate during the Pakistan-India crisis, praising the sincerity of Iranian leaders in promoting peace. “We are grateful to Iran for its offer of mediation during the recent conflict with India, which showed its sincerity and wisdom, in promoting peace and stability in the region,” he said, extending thanks to President Pezeshkian and Foreign Minister Araqchi for their efforts to ease tensions in South Asia.
