Pakistani official announces enhancements in 2 key facilities at border points with Iran
(MENAFN) Pakistan’s Ambassador to Iran, Muhammad Mudassir Tipu, has announced significant enhancements in facilities at two key border points between Pakistan and Iran aimed at facilitating trade and travel for passengers and pilgrims. In a statement on social media platform X, Tipu highlighted the improvements at the Taftan and Gabd border crossings, noting that these upgrades will allow for the daily passage of approximately 4,000 to 6,000 passengers. He expressed satisfaction with the progress, emphasizing that these measures will benefit pilgrims, the business community, and bilateral trade relations between the two countries.
Tipu also underscored the promising future of relations between Iran and Pakistan, emphasizing the growing economic ties. According to statistics from the Pakistani Ministry of Commerce, Iran's non-oil exports to Pakistan reached USD360 million in the first four months of 2024, marking an 18 percent increase compared to the same period last year. Conversely, Pakistan imported goods worth USD360 million from Iran during this period, reflecting an 18 percent growth year-on-year. April 2024 alone saw Pakistan importing USD73.2 million worth of products from Iran, a notable 30 percent rise from April 2023.
In 2023, Iran's total exports to Pakistan amounted to USD944 million, indicating a 13 percent increase compared to the previous year. This robust trade relationship was further emphasized in a recent meeting between Samad Hassanzadeh, Head of the Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA), and Ambassador Tipu in Tehran. The officials discussed the potential for expanding bilateral trade to achieve a targeted USD10 billion mark, highlighting sectors such as pharmaceuticals, petrochemicals, energy, auto parts, techno-engineering services, electronics, and health tourism as areas of mutual interest.
Hassanzadeh emphasized the ongoing agreement to establish a joint trade council between Iran and Pakistan, underscoring the readiness and mutual benefits of fostering deeper economic cooperation between the neighboring nations.
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