Why it matters:
Bilateral trade serves as both a way to enhance business connections and a foundation for stable relations. Specifically, the creation of trade markets along the border between Iran and Pakistan opens up opportunities for prosperity for citizens living on both sides, while also fostering strong diplomatic relations.
The big picture:
Pakistan and Iran are neighbours and close firends, the relationship has strategic importance and they share a border nearly 1000 Km.
What he's saying:
Sharing his views with Iran Press, the DG of Institute of Strategic Studies Islamabad Ambassador Sohail Mahmood said that trade between the two countries is crucially important, and it's always important to have a very substantial economic content to any relationship.
Economic and trade ties between the two countries are important, but for Pakistan and Iran, it is important for a variety of reasons. It especially contributes to economic empowerment of the local communities, adds more content to bilateral relationships and regional cooperation also.
several steps have been taken, border markets have been established, barter trade has been agreed between the two sides, it was agreed to expedite discussion on free trade agreement also.
All these measures are in the direction of increasing bilateral trade, and it would be a beneficial aspect both for the two countries and the local communities on the both sides of the border.
Key points:
- Iran- Pakistan relations have a Strategic importance.
- Bilateral trade contributes to the economic empowerment of local communities.
- Several steps have been taken to achieve 10 Billion Dollars in bilateral trade.
Go deeper:
Pakistan and Iran are part of ECO, which has its trade facilitation arrangements, so when the two leaders met during the visit of the late President Raisi, it was decided to set a target of 10 Billion Dollars of bilateral trade.
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