Value of Iran’s non-oil exports to Pakistan reach USD1.7B in 9 months
Date
1/21/2025 4:24:27 AM
(MENAFN) Iran exported non-oil commodities worth USD1.7 billion to Pakistan during the first nine months of the current Iranian calendar year, which ran from March 20 to December 21, 2024. According to the head of the Islamic Republic of Iran Customs Administration (IRICA), Foroud Asgari, Pakistan ranked as Iran's sixth-largest export destination during this period. This highlights the growing trade relationship between the two neighboring countries.
In a meeting held in Tehran in late June 2024, Samad Hassanzadeh, the head of the Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA), and Pakistani Ambassador to Iran Muhammad Mudassir Tipu emphasized the importance of strengthening bilateral trade. They stressed the need for both nations to pursue barter trade and free trade initiatives to help achieve their target of USD10 billion in annual trade.
Further discussions on enhancing trade ties took place in mid-October 2024 during a meeting between Iran's Industry, Mining, and Trade Minister Mohammad Atabak and Pakistan's Federal Minister for Commerce Jam Kamal Khan. The two ministers met in Islamabad on the sidelines of the 23rd meeting of the Council of Heads of Government of the Shanghai Cooperation Organization (SCO). They agreed to promote economic exchanges and pledged to continue talks to address challenges hindering the growth of bilateral trade.
Atabak emphasized the need to capitalize on the strong historical and cultural ties between the two countries to further expand trade. He stated that both Iran and Pakistan have significant potential for trade growth and should work together to overcome obstacles and maximize their economic cooperation.
MENAFN21012025000045015839ID1109111676
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.