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Pak-Iran Trade Agreements – What’s the Future? An Analysis by Ishraq A. Hashmi


On the last day of the two-day visit of Iranian President Masoud Peshkeshkian, a dozen agreements and memorandums of understanding of far-reaching importance have been signed between the two countries in the Pak-Iran ministerial talks, the implementation of which will further strengthen the eternal ties of mutual cooperation, brotherhood, and friendship. Under these agreements and memorandums of understanding, cooperation in Iran’s Silk Road and Gwadar-Tacha-Bahar projects, the Quetta-Zahedan railway track, and commercial matters, including increasing land connectivity, free trade, and ensuring that the current volume of bilateral trade of $3 billion reaches the target of $10 billion as soon as possible. Along with the ministerial talks, President Peshkeshkian also held separate meetings with Prime Minister Shahbaz Sharif and President Asif Zardari and exchanged views on the regional and global situation.

President Zardari expressed his confidence on the occasion that Pakistan and Iran will continue to work together for a peaceful and prosperous future of the region. During the meeting of the Iranian president with Prime Minister Shahbaz Sharif, Army Chief Field Marshal Syed Asim Munir and senior federal ministers were also present. The Iranian president stressed the unity of the Muslim Ummah and thanked Pakistan for its support and solidarity during the recent Israeli attack, saying that Iran considers Pakistan not only its neighbor but also its brother. He also invited Prime Minister Shehbaz Sharif to visit Iran. The two leaders discussed measures to promote mutual trade, including facilitating barter trade, increasing the export quota of rice, fruits, and meat, activating border markets, and removing trade barriers. Prime Minister Shehbaz Sharif said in a joint press conference after signing the agreements that Iran has every right to obtain nuclear energy for peaceful purposes.

This was an indication of the attack on Iran’s nuclear facilities, which was said to be aimed at preventing Iran from developing nuclear weapons, while Iran has a clear position that it will not give up its uranium enrichment program for peaceful purposes. He paid tribute to the strong defense of its sovereignty and integrity by the government and people of Iran against Israeli attacks. Regarding the activities of terrorists on the Pak-Iran borders, the Prime Minister said that we will not tolerate such acts. And we will ensure full cooperation against terrorists to open hundreds of kilometers of borders for peace and development in the region. He urged the whole world to speak in unison and raise their voice in favor of the oppressed Palestinians on the issue of Gaza. In the press conference, the Iranian president said, with reference to Quranic verses, that the lesson of unity on the basis of religion was given by our Prophet Muhammad (PBUH). We consider Pakistan as our second home.

The cooperation agreements signed between Pakistan and Iran will increase trade relations between the two countries. Especially through border markets on the barter system, the business community of Balochistan, which is highly dependent on this system, will benefit. The visit of the Iranian president to Pakistan is of exceptional importance in the current global situation. Both Iran and Pakistan have recently been the target of external aggression. It is expected that President Peshkian’s visit will further increase understanding between the two countries.




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