Value of Iran’s non-oil exports to Pakistan reaches USD1.5B in 8 months
Date
12/29/2024 3:18:18 AM
(MENAFN) Iran exported USD1.5 billion worth of non-oil commodities to Pakistan during the first eight months of the current Iranian calendar year (March 20-November 20), according to the head of the Islamic Republic of Iran Customs Administration (IRICA), Foroud Asgari. This makes Pakistan Iran’s sixth largest export destination during this period.
On November 5, Iran's Minister of Industry, Mining, and Trade, Mohammad Atabak, announced that a free trade agreement with Pakistan had been finalized. The two countries are expected to release a list of commodities covered under the agreement within two months. This move is seen as part of broader efforts to enhance bilateral trade.
In late June, Samad Hassanzadeh, the head of the Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA), met with Pakistani Ambassador to Iran, Muhammad Mudassir Tipu, in Tehran, where both sides emphasized the importance of strengthening trade relations through barter and free trade agreements, aiming for a USD10 billion trade target.
Additionally, in mid-October, Atabak and Pakistan's Federal Minister for Commerce Jam Kamal Khan met in Islamabad during the 23rd meeting of the Council of Heads of Government of the Shanghai Cooperation Organization (SCO). The ministers discussed expanding trade ties and agreed to continue talks to eliminate barriers to bilateral trade, noting the shared historical and cultural ties that offer strong potential for economic cooperation.
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