ISLAMABAD: Pakistan and Iran have agreed to target $8 billion in annual bilateral trade, pledging to accelerate economic cooperation and strengthen regional connectivity.
The agreement was reached during a meeting between Pakistan’s Federal Minister for Commerce, Jam Kamal Khan, and Iran’s Minister for Industry, Mine and Trade, Mohammad Atabak, in Islamabad. Both ministers vowed to give fresh momentum to trade relations and fast-track the next session of the Pakistan-Iran Joint Economic Commission.
Calling for stronger cross-border links, Kamal said it was time to turn geographical proximity into economic advantage. The two sides welcomed growing trust between their business communities and announced a series of new B2B meetings to deepen collaboration. Discussions covered agriculture, energy, livestock, logistics, and IT services, with both sides highlighting the need to make better use of border facilities and trade corridors.
Kamal described Pakistan-Iran friendship as a blend of “trade, culture, and brotherhood,” while Atabak said closer ties between the neighbours could bring greater stability to the region.
State Visit and High-Level Talks
The developments came as Iranian President Dr Masoud Pezeshkian arrived in Pakistan for a two-day state visit. Prime Minister Shehbaz Sharif received him at the PM House, where he was given a guard of honour, introduced to cabinet members, and planted a sapling in the lawn.
President Pezeshkian is accompanied by a high-level delegation, including Iranian Foreign Minister Abbas Araghchi, senior ministers, and other officials. He will meet President Asif Ali Zardari and hold delegation-level talks with the prime minister and cabinet ministers.
Defence Cooperation
Separately, Iran’s Defence Minister Brig Gen Aziz Nasir-Zadeh met Pakistan’s Defence Minister Khawaja Muhammad Asif to discuss regional security, counter-terrorism, and enhanced defence cooperation.
Earlier this year, Pakistan tightened controls on cross-border smuggling — including Iranian oil — boosting legal trade by up to 340%. However, domestic oil industry representatives have warned that illegal trade is once again on the rise.
