Pakistan and Iran have committed to swiftly finalise the Free Trade Agreement (FTA) between the two nations, aiming to boost bilateral trade to a remarkable $10 billion over the next five years.
This pledge came as part of the discussions held during the official visit of Iran's President Dr. Seyed Ebrahim Raisi to Pakistan from April 22-24.
Prime Minister Shehbaz Sharif and President Raisi engaged in delegation-level talks, accompanied by high-level officials from both sides. They emphasized the importance of cooperation in various sectors, including energy, trade, and connectivity.
Read here: Iran's Raisi awarded honorary doctorate by University of Karachi
In joint statement, both nations expressed their determination to transform the common border into a corridor of prosperity, highlighting plans for joint economic projects, establishment of economic free zones, and facilitation of border trade.
Additionally, they reiterated their commitment to key energy projects such as the Iran-Pakistan Gas Pipeline.
Furthermore, the leaders stressed the significance of enhancing bilateral relations through academic, cultural, and tourism exchanges. They also emphasized the importance of regular cooperation in combating common threats like terrorism, narcotics smuggling, and human trafficking.
Finalisation of FTA
To expedite the finalization of the FTA, both sides agreed to convene sessions of various bilateral forums soon, including the Annual Bilateral Political Consultations and the Joint Economic Commission. They also pledged to facilitate the exchange of economic and technical experts and delegations from chambers of commerce.
In the realm of connectivity, Pakistan and Iran expressed satisfaction over the regular shipment of goods under the TIR Convention and pledged to fully operationalize it for efficient trade.
As members of the Belt and Road Initiative (BRI) and the Economic Cooperation Organization (ECO), both nations affirmed their commitment to enhancing cooperation in connectivity, infrastructure development, and energy sectors. They also agreed to expand linkages between the Gwadar and Chahbahar ports.
On the regional front, Pakistan and Iran condemned terrorism in all forms and reiterated their commitment to peaceful dispute resolution. They also emphasized the need for dialogue and diplomacy to address issues such as Kashmir and the Israeli-Palestinian conflict.
President Raisi paid homage to Allama Muhammad Iqbal during his visit to Pakistan and invited the Pakistani leadership to visit Iran officially.
In a joint statement, the two countries affirmed their commitment to strengthening bilateral ties and fostering regional stability and development.
The visit concluded with agreements on prisoner release and extradition, condemnation of attacks on diplomatic facilities, and a call to combat Islamophobia globally.
President Raisi's visit to Pakistan marks a significant step towards deepening cooperation and friendship between the two neighboring nations, paving the way for enhanced economic and strategic partnerships in the years ahead.
President Raisi pays visit to Mazar-i-Quaid
Following departure from Lahore, Iranian President Ebrahim Raisi touched down in Karachi on the second day of his three-day official visit to Pakistan.
President Raisi was welcomed by Sindh Governor Kamran Tessori and Chief Minister Syed Murad Ali Shah along with notable figures including Aseefa Bhutto, Azra Pechuho, Sharjeel Memon, and Nasir Shah.
The Iranian president also paid a visit to the Founder of Pakistan Muhammad Ali Jinnah's mausoleum (Mazar-i-Quaid) along with the aforementioned figures. Meanwhile, the visiting dignitary laid floral wreath at the Mazar, offered Fateha and paid tribute to the great leader of Pakistan for his leadership skills.
COAS Asim Munir, Raisi discuss regional peace, border security
During his visit, President Raisi also met Army chief General Asim Munir wherein both sides discussed regional peace, stability, border security and issues of mutual interest in the meeting.
The discussion primarily focused on matters of mutual interest, notably regional peace, stability, and border security.
Both sides concurred on the necessity to bolster bilateral cooperation while jointly striving for regional stability and economic prosperity.
COAS described the Pak-Iran border as “the border of peace and friendship,” emphasizing the need for improved coordination along the border to prevent terrorists from jeopardizing the longstanding brotherly relations between the two neighbouring countries.
President Ebrahim Raisi emphasized that by fostering cooperation between the two Armed Forces, Pakistan, and Iran can attain peace and stability for both nations and the region.
Earlier, Pakistan and Iran have decided to promote their bilateral relations in diverse fields including political, economic, trade, and culture.
The understanding came at the delegation level talks between the two countries in Islamabad today.
Prime Minister Shehbaz Sharif led the Pakistani delegation, while that of Iran by its President Dr Seyyed Ebrahim Raisi.
Later, at a press stakeout, the Iranian President said both the countries have decided to enhance their trade volume to ten billion dollars.
