Iran exports non-oil commodities to Pakistan valued at USD1.2B in 7 months
Date
11/17/2024 4:12:12 AM
(MENAFN) In the first seven months of the current Iranian calendar year (March 20-October 21), Iran exported non-oil commodities worth USD1.2 billion to Pakistan, making it the sixth-largest export destination for Iranian non-oil goods. Mohammad Rezvanifar, the former head of the Islamic Republic of Iran Customs Administration (IRICA), shared this update, reflecting the ongoing trade relationship between the two neighboring countries.
Iran’s efforts to strengthen trade ties with Pakistan have been underscored by the recent finalization of a free trade agreement between the two nations. Iran's Industry, Mining, and Trade Minister Mohammad Atabak revealed that the list of commodity items covered by this agreement will be finalized and announced in the coming two months. This move is seen as a step toward deepening economic relations and facilitating smoother trade exchanges.
In addition to the free trade agreement, officials from both sides have been engaging in discussions to promote bilateral trade. In late June, during a meeting between Samad Hassanzadeh, Head of the Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA), and Pakistani Ambassador Muhammad Mudassir Tipu, the importance of barter and free trade was emphasized to achieve a USD10 billion trade target. The two sides also focused on finding ways to overcome obstacles and enhance cooperation.
Trade discussions were further advanced during a meeting between Atabak and Pakistan's Federal Minister for Commerce, Jam Kamal Khan, in mid-October. Held in Islamabad on the sidelines of the 23rd meeting of the Shanghai Cooperation Organization (SCO), the meeting highlighted the historical and cultural ties between the two countries. Both ministers agreed on the need to remove barriers to trade and promote closer economic exchanges, with Atabak inviting Kamal Khan to visit Iran to explore further opportunities for collaboration.
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