KARACHI: Following a ceasefire agreement with the United States, Iran has decided to significantly expand trade relations with Pakistan, aiming to elevate bilateral trade to as high as $10 billion, according to officials and business representatives.
The development comes as Iran’s second major trade delegation in two months visited the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), signaling renewed economic engagement between the two neighbouring countries.
During the visit, agreements were signed for the development of LPG storage facilities and investment projects in Pakistan. According to FPCCI representative Muhammad Ali Haider, the signing ceremony took place at the FPCCI office, with the Iranian delegation comprising mining investors, rice importers, and other business stakeholders.
He said that both sides have set an ambitious target to increase Pakistan-Iran trade volume to $10 billion following the establishment of a complete ceasefire and improved regional stability.
Separately, Iran’s Ambassador to Pakistan met the Federal Minister for Board of Investment in Islamabad, where discussions were held on expanding economic cooperation and resolving trade-related issues.
Federal Minister Qaiser Ahmed Sheikh assured the delegation that relevant ministries would be engaged to address outstanding matters and facilitate smoother bilateral trade flows.
According to an official statement, Iran also offered Pakistan greater access to Central Asian markets through enhanced transit cooperation. Both sides reaffirmed their commitment to strengthening economic ties and increasing border trade.
They also agreed on joint measures to expand cross-border commerce, including a proposal to increase the number of daily cross-border trucks to 2,000 to improve trade efficiency and logistics.
The statement further noted that both sides appreciated the leadership of Prime Minister Shehbaz Sharif and Chief of Army Staff Field Marshal Asim Munir for their role in promoting regional stability and supporting economic cooperation initiatives between Pakistan and Iran.
