Pakistan, Iran eye $10 billion trade with new FTA and markets

Federal Commerce Minister Jam Kamal Khan revealed the restoration of border markets between Pakistan and Iran during Sunday's business forum. The Mand-Pishin market resumed operations on July 30 after an extended closure. Additional markets at Chaghi-Kuhak and Gabd-Rimdan will open shortly for cross-border commerce. Khan emphasized these developments would benefit communities living near the frontier. Local populations in Balochistan depend heavily on Iranian trade partnerships.

The minister announced the completion of the Pakistan-Iran Free Trade Agreement negotiations. Both nations established a bilateral trade target of $10 billion through private sector participation. Enhanced customs cooperation and improved infrastructure will facilitate smoother commercial exchanges. Khan identified agriculture, minerals, and energy as prime collaboration sectors. Iranian companies received invitations for joint ventures and direct investment opportunities.

Mohammad Atabak represented Iran's commercial interests at the diplomatic gathering. Deputy Prime Minister Ishaq Dar attended alongside other senior Pakistani officials. Khan described the forum as a friendship between neighboring Islamic republics. The minister expressed appreciation for the Iranian President's participation in economic discussions. Pakistan will convene the Joint Economic Commission meeting to strengthen trade relationships further.
 

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