Pakistan, Iran aim for $10 billion trade target with FTA, border markets

Pakistan and Iran have agreed to finalise a Free Trade Agreement (FTA) and activate border markets to facilitate bilateral trade, Commerce Minister Jam Kamal Khan said during his official visit to Iran. 

Both sides are working to finalise the list of items to be covered under the FTA, aiming to enhance trade volume and strengthen economic ties.

During a meeting with Seyyed Muhammad Atabak, Iran’s Minister of Industry, Mine and Trade, Jam Kamal highlighted efforts to support the private sector and increase exports, noting a recent rise in Pakistan’s rice and meat shipments to Iran. 

He also thanked the Iranian minister for expressing condolences for families affected by the recent floods in Pakistan.

Iranian Minister Atabak said the consistent high-level visits reflect Tehran’s confidence in Pakistan and a shared commitment to achieving the bilateral trade target of $10 billion. 

He added that trade between the two countries has already reached $3 billion and emphasized the importance of people-to-people engagement and enhanced connectivity.

Both ministers discussed improving road and rail links, port infrastructure, and the potential for barter trade to further streamline cross-border commerce. The Joint Economic Commission (JEC) is scheduled to meet tomorrow to identify measures for removing obstacles to trade.

The Iranian delegation accompanying Atabak included Mr. Dehghan Dehnavi, Head of the Trade Promotion Organization; Mr. Abdol-Sadeh Neisi, Director General of the East Asia Office; Mr. Moftah, Deputy Minister of Industry, Mine and Trade; Mr. Ghanbari, Deputy Minister of Foreign Affairs; Mr. Hassanzadeh, Vice Chairman of the Chamber of Commerce of Iran; and Mr. Safari from Iran’s Ministry of Foreign Affairs.