ISLAMABAD: Pakistan and Iran have agreed to elevate their bilateral trade volume to $10 billion following the 10th session of the Pak-Iran Joint Trade Committee held in Islamabad.
The three-day meeting was co-chaired by Pakistan’s Federal Minister for Commerce, Jam Kamal Khan, and the Iranian Minister of Industry, Mine, and Trade, focusing on trade, investment, and broader economic cooperation.
Key outcomes of the negotiations include significant progress on the rules of a bilateral trade agreement and mechanisms for tariff reductions.
Both nations agreed to strengthen business-to-business ties and expand the existing barter trade system to make it more effective. To facilitate smooth implementation of these decisions, technical committees will continue their work.
Additionally, both sides agreed to expedite the inauguration of the Chedgi-Kohak border market and decided to establish joint committees for the efficient management of shared border markets.
