Iran and Pakistan agree to enhance bilateral trade volume to $10 billion

By Naveed Siddiqui
ISLAMABAD: Iranian President Ebrahim Raisi, on a three-day visit to Pakistan, announced a strategic decision to elevate the bilateral trade volume between Iran and Pakistan to $10 billion. The declaration came during a joint press conference held on Monday alongside Prime Minister Shehbaz Sharif, marking a significant step forward in diplomatic and economic relations between the two nations.
President Raisi’s visit, the first by any head of state following Pakistan’s February 8 general elections, underscores the mutual commitment to deepen ties and explore avenues for collaboration across various sectors. During the joint presser, President Raisi expressed gratitude for the warm reception and hospitality extended by Prime Minister Shehbaz and the Pakistani government.
In his address, Raisi emphasized the cultural and religious ties that bind Iran and Pakistan, stressing the need to leverage shared potentials and capabilities for the benefit of both nations. He underscored the importance of expanding cooperation in political, economic, trade, and cultural spheres. Furthermore, both leaders reaffirmed their resolve to combat terrorism, organized crime, and narcotics trafficking, recognizing the common threats to regional security. Raisi commended Pakistan’s efforts in this regard and pledged Iran’s continued support for joint initiatives to enhance security cooperation.
Prime Minister Shehbaz echoed Raisi’s sentiments, emphasizing the significance of maintaining strong bilateral relations despite prevailing challenges. He lauded Raisi’s leadership and Iran’s principled stance on international issues, particularly regarding the Israeli offensive in Gaza and the situation in Indian-occupied Kashmir. During their meeting, the two leaders deliberated on various areas of collaboration, including investment, security, and cultural exchanges. They witnessed the signing of several memoranda of understanding (MoUs) aimed at fostering closer cooperation and enhancing communication links between the two countries.
In concluding remarks, Prime Minister Shehbaz expressed optimism about the future of Pak-Iran relations, envisioning shared borders as catalysts for economic growth and prosperity. President Raisi reciprocated the sentiment, affirming Iran’s readiness to share its expertise and contribute to Pakistan’s development. The visit of President Raisi to Pakistan marks a pivotal moment in the bilateral relationship, signaling a mutual commitment to deepen cooperation and strengthen ties across multiple fronts. With the pledge to increase trade volume to $10 billion and the signing of MoUs, both nations have taken tangible steps towards realizing their shared vision of prosperity and stability in the region.