Why it matters:
The seminar underscores the commitment of both Iran and Pakistan to prioritize trade as a means of strengthening bilateral relations. By addressing current challenges and exploring border trade opportunities, the discussions aim to foster economic growth and regional stability.
The big picture:
Strengthening trade ties between Iran and Pakistan is expected to create new business opportunities for both nations while benefiting the broader region. Establishment of border markets and improved trade facilities is seen as crucial for local economies and for curbing smuggling activities.
What they're saying:
Iranian ambassador to Islamabad, Reza Amiri Moghaddam, emphasized that trade and connectivity are essential for economic growth, calling for investment in transit corridors. He noted the strategic locations of both countries as trade bridges between Asia and Europe and urged the removal of bureaucratic barriers.
Former Pakistani ambassador to Iran Riffat Masood highlighted challenges such as trade imbalances and U.S. sanctions but pointed to positive developments like 39 MoUs and expanded energy cooperation.
Director General of the Institute of Strategic Studies, Islamabad (ISSI), Sohail Mahmood stressed the historical ties between the two nations and the need to leverage geographical proximity to build a durable economic partnership.
Key points:
- The $10 billion trade target and key energy projects are significant steps in strengthening ties.
- There is a need to sign a Free Trade Agreement (FTA), improve border facilities, and enhance business engagement.
- The seminar addressed the operationalization of border markets and energy cooperation through the Polan-Gabd transmission line.
Go deeper:
Progress since 2021 includes commitments made during then Iranian President Ebrahim Raisi’s 2024 visit, which aim to expedite FTA negotiations and establish economic free zones, further solidifying the economic relationship between Iran and Pakistan.
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محمود مجدی
