Trade between Iran, Pakistan soars 10 percent in 5 months yr/yr
Date
9/17/2024 8:25:16 AM
(MENAFN) The value of non-oil trade between Iran and Pakistan saw a 10 percent increase in the first five months of the current Iranian calendar year (March 20 - August 21) compared to the same period last year, according to the Islamic Republic of Iran Customs Administration (IRICA). During this period, the bilateral trade between the two countries reached 1.906 million tons, valued at USD1.128 billion, indicating a two percent growth in weight as well.
Pakistan ranked as Iran's fourth top trade partner among its neighboring countries during these five months. In mid-July, the 11th meeting of the Joint Border Trade Committee of Iran and Pakistan took place in Zahedan, southeastern Iran. The discussions focused on boosting bilateral trade to USD10 billion annually. Pakistan's Ambassador to Iran, Muhammad Mudassir Tipu, participated in the meeting online, where both delegations discussed mechanisms to increase mutual trade.
Attendees of the meeting included the consul generals from both countries and senior officials from Sistan-Baluchestan province. These joint meetings aim to identify and overcome trade barriers while enhancing economic relations between the two neighboring countries. Coordination efforts are made to foster trade and economic ties, exchange economic delegations, organize joint exhibitions, attract bilateral investments, and establish joint industrial centers and retail markets.
Irfan Javed, head of the Pakistani delegation, emphasized Islamabad's strong support for developing joint markets and investments, which could build trust between the two nations. He also highlighted the importance of cooperation in transportation, as it can significantly impact the livelihood of people living in border regions. The deputy coordinator of economic affairs of the Sistan-Baluchestan governor’s office expressed Iran's keen interest in expanding trade exchanges with Pakistan.
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