ISLAMABAD: Pakistan and Iran have renewed their commitment to strengthening economic ties and increasing bilateral trade to $10 billion through enhanced cooperation and development initiatives.
During a meeting, Pakistan’s Investment Minister Qaiser Ahmed Sheikh and Iranian Ambassador Reza Amiri Moghadam discussed ways to expand trade and investment between the two neighbouring countries.
Both sides emphasized the importance of operationalizing Special Economic Zones (SEZs) in border areas to facilitate business activities and improve cross-border commerce.
The meeting focused on exploring new opportunities for economic collaboration, encouraging investment, and removing barriers to trade. Officials agreed that stronger economic engagement would benefit both countries and contribute to regional development.
According to Pakistan’s food ministry, the two sides expressed confidence that joint efforts and improved connectivity would help achieve the target of increasing bilateral trade volume to $10 billion in the coming years.
“Both sides reaffirmed their commitment to achieving the agreed bilateral trade target of USD 10 billion in the coming years,” the Pakistani food security ministry said about Sheikh’s meeting with Moghadam.
“It was noted that the SEZ initiative, particularly around the Rimdan–Gabd border region, along with previously agreed border markets, will play a pivotal role in improving livelihoods in border areas and boosting cross-border commerce.”
The Iranian envoy stressed the need for a joint visit to finalize and notify the boundaries of the economic zone. The statement said that while Iran has already completed demarcation on its side, Pakistan’s side requires coordination to move forward. Both sides agreed that a joint technical visit would be undertaken as a first step, followed by the development of Terms of Reference (TORs).
Sheikh highlighted the strategic importance of the location, noting that the Rimdan–Gabd area enjoys proximity to key maritime routes and major ports, making it a highly viable hub for trade and investment.
“He further observed that the area offers comparatively better security conditions than other border points, enhancing its attractiveness for investors,” the statement said.
Both discussed the issue of Iranian containers currently stuck at Karachi Port for approximately 100 days, with Moghadam requesting Pakistan’s support for their early release, particularly as some consignments include essential goods such as medicines.
Sheikh assured the Iranian envoy that the Board of Investment would obtain detailed information and coordinate with relevant ministries to resolve the matter on priority.
