ISLAMABAD (special crosspondent) – The government of Pakistan and the Islamic Republic of Iran have successfully concluded the 10th Session of the Pakistan-Iran Joint Trade Committee, marking a significant step toward deepening bilateral economic ties. The two nations have formally committed to working toward a shared target of US$10 billion in annual trade volume, signaling a new chapter in regional economic integration similar to efforts seen in other bilateral cooperation frameworks.

Agreement on Trade Infrastructure and Policy

The concluding session was co-chaired by Pakistan’s Federal Minister for Commerce, Jam Kamal Khan, and Iran’s Minister of Industry, Mines and Trade, Dr. Mohammad Atabak. Following two days of intensive deliberations, the ministers signed the Agreed Minutes, which codify the strategic understandings reached during the meetings. A primary focus of the talks remained the ongoing progress of the proposed Pakistan-Iran Free Trade Agreement. Both delegations reviewed essential technical aspects, including the Rules of Origin, tariff-reduction modalities, and the finalization of product lists.

Expanding Economic and Industrial Cooperation

The Joint Trade Committee meeting placed a strong emphasis on diversifying economic engagements. Discussions centered on expanding barter trade mechanisms, strengthening business-to-business (B2B) linkages, and promoting industrial cooperation and foreign direct investment. Furthermore, both countries identified the activation of joint border markets and the enhancement of private-sector participation as critical pillars for sustainable growth. While focusing on regional trade, officials also acknowledged the importance of broader diplomatic stability, much like the commitment to strengthen counterterrorism cooperation in other geopolitical corridors.

Logistics and Trade Facilitation

To ensure the smooth movement of commercial cargo—particularly for perishable goods—both nations agreed to overhaul trade facilitation processes. This includes improved customs coordination, upgraded transport logistics, and the development of essential border infrastructure. Federal Minister Jam Kamal Khan remarked that these agreed-upon measures are designed to transform the historic and brotherly relations between the two countries into tangible, high-impact economic cooperation. Dr. Mohammad Atabak reciprocated this sentiment, reaffirming Iran’s dedication to dismantling existing trade barriers and bolstering commercial relations. Both ministers concluded the session by emphasizing the necessity of sustained coordination and the timely implementation of these policy decisions ahead of the next session of the Joint Trade Committee.