{"id":21911,"date":"2023-08-03T21:21:16","date_gmt":"2023-08-03T21:21:16","guid":{"rendered":"https:\/\/pakistanintheworld.pk\/live\/?p=21911"},"modified":"2023-08-03T21:21:16","modified_gmt":"2023-08-03T21:21:16","slug":"pakistan-iran-sign-agreements-to-take-bilateral-trade-up-to-5-billion-set-up-free-trade-region-opening-5-markets-on-common-border","status":"publish","type":"post","link":"https:\/\/pakistanintheworld.pk\/live\/pakistan-iran-sign-agreements-to-take-bilateral-trade-up-to-5-billion-set-up-free-trade-region-opening-5-markets-on-common-border\/","title":{"rendered":"Pakistan Iran Sign Agreements to take Bilateral Trade up to $5 Billion &#8211; Set up Free Trade Region , Opening 5 Markets on Common Border"},"content":{"rendered":"<h5><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-21913\" src=\"https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2023\/08\/Pakistan-Iran-Trade.jpg\" alt=\"\" width=\"550\" height=\"368\" srcset=\"https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2023\/08\/Pakistan-Iran-Trade.jpg 550w, https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2023\/08\/Pakistan-Iran-Trade-300x201.jpg 300w\" sizes=\"(max-width: 550px) 100vw, 550px\" \/><em><strong>Tazeen Akhtar<\/strong><\/em><\/h5>\n<h5><em><strong>Two neighbors and two brothers as well Pakistan and Iran have put the bilateral cooperation onto a way forward where both can transform their neighborhood and historical religious, cultural, traditional ties into meaningful trade and economic cooperation. The bilateral cooperation that was a priority of both of them but the proxies, regional dynamics and certain policies\u00a0 were not letting both of them to go in that way, is being sought from both sides and the Five-Year Trade Cooperation Plan (2023-28), which inter alia, sets a bilateral trade target of US$ 5 billion is the first milestone both have reached on 03 Aug 2023 after delegation <\/strong><\/em><strong>level detailed and extensive discussion <\/strong><em><strong>between Foreign Minister Bilawal Bhutto Zardari and his Irani Counterpart H.E Hossein Amir Abdollahian at Ministry of Foreign Affairs Islamabad <\/strong><\/em><strong>encompassing the entire gamut of our bilateral relations.<\/strong><\/h5>\n<h5>Pakistan and Iran signed documents of understanding to prioritize removing impediments on bilateral trade, finalization of the FTA, and establishment of institutional linkages between\u00a0 respective private sectors. They signed a Protocol on Bilateral Economic Consultations, encompassing the rich and in-depth sectoral discussions held between both sides and a Protocol on the 3rd meeting of the Joint Investment Committee (JIC) on issue of bilateral investments.<\/h5>\n<h5>Irani Foreign Minister Hossein Amir Abdollahian who is on a two-day visit to Pakistan at Foreign Minister Bilawal Bhutto-Zardari\u2019s invitation, held meetings with Prime Minister Shehbaz Sharif, Speaker National Assembly Raja Pervez Ashraf and Chairman Senate Sadiq Sanjrani after his visit to MOFA Pakistan and signing of the agreements. Earlier FM Bilawal had visited Iran and now his Irani counterpart is on Pakistan visit.FM Bilawal after assuming the charge of MOFA went to Iran on his first foreign visit in June 2022 that speaks a lot how much importance Pakistan attaches to cooperation with Iran.<\/h5>\n<blockquote class=\"wp-embedded-content\" data-secret=\"Qc7FM2zgkT\"><p><a href=\"https:\/\/pakistanintheworld.pk\/live\/iran-pakistan-trade-registered-record-2-2-billion-despite-us-sanctions-corona-restrictions\/\">Iran-Pakistan Trade Registered Record $2.2 Billion Despite US Sanctions &#038; Corona Restrictions<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Iran-Pakistan Trade Registered Record $2.2 Billion Despite US Sanctions &#038; Corona Restrictions&#8221; &#8212; Pakistan In the World\" src=\"https:\/\/pakistanintheworld.pk\/live\/iran-pakistan-trade-registered-record-2-2-billion-despite-us-sanctions-corona-restrictions\/embed\/#?secret=pmtDB5mnpB#?secret=Qc7FM2zgkT\" data-secret=\"Qc7FM2zgkT\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<h5>FM Bilawal in joint press stakeout with Irani counterpart, said the five-year trade cooperation plan was aimed at removing impediments in bilateral trade, finalising a free trade agreement and establishing institutional linkages between the private sectors of both countries.The two sides had agreed to prioritise the operationalisation of the five remaining border markets by the end of this year.<\/h5>\n<h5>The steps both countries have taken will chart the course for a long-term durable economic partnership between our two countries in the months and years ahead.<\/h5>\n<h5>FM Iran emphasised the need for enhanced bilateral cooperation in the fields of economy, trade and tourism.He\u00a0 also emphasised the completion of the <a href=\"https:\/\/www.dawn.com\/news\/1752216\">Pakistan-Iran gas pipeline<\/a>, saying that the project would \u201cdefinitely serve the national interests of the two countries\u201d.<\/h5>\n<h5 style=\"text-align: center;\"><span style=\"color: #ff0000;\"><strong>Mr.\u00a0 Abdollahian said both countries were committed to increasing the bilateral trade to $5bn and had agreed to set up a special economic free trade region along the common border points.Pakistan and Iran had decided to repatriate all the sentenced prisoners as per the provisions of existing agreements between the two countries. An agreement was also reached to set fishermen from each other countries free and waive off any fine imposed by authorities of both countries for the release of their vessels, he added. Bilawal said the two sides would exchange the lists of prisoners to put into practice this understanding expeditiously.<\/strong><\/span><\/h5>\n<h5>\u00a0\u201cgrave human rights situation\u201d in India-occupied Kashmir also came under discussion during the meeting and thanked the Iranian leadership for its \u201cfirm and consistent support to the legitimate cause of the people of the valley, Bilawal shared with media.<\/h5>\n<h5>Both sides had also agreed to continue their active engagement on Afghanistan with the view to advance peace and stability there and promote the well being and prosperity of Afghan brothers and sisters. An agreement was also reached to continue cooperation for countering Islamophobia and anti-Muslim hatred, he said.<\/h5>\n<h5>FM Iran agreed to Bilawal who called for supporting the people of Afghanistan, highlighting that any situation in Afghanistan would have an impact in the neighbouring countries of Pakistan and Iran.<\/h5>\n<h5>Abdollahian also condemned the recent <a href=\"https:\/\/www.dawn.com\/news\/1767493\">terrorist attack<\/a> in Bajaur and extended sympathies to the bereaved families, people of Pakistan in general and the government of Pakistan.<\/h5>\n<blockquote class=\"wp-embedded-content\" data-secret=\"olRlP0J8jo\"><p><a href=\"https:\/\/pakistanintheworld.pk\/live\/h-e-mohammad-ali-hosseini-iran-ready-to-supply-gas-electricity-to-pakistan-flights-should-be-increased-important-energy-project-will-be-accomplished-soon\/\">H.E Mohammad Ali Hosseini: Iran Ready to Supply Gas &#038; Electricity to Pakistan &#8211; Flights Should be Increased &#8211; Important Energy Project will be Accomplished Soon<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;H.E Mohammad Ali Hosseini: Iran Ready to Supply Gas &#038; Electricity to Pakistan &#8211; Flights Should be Increased &#8211; Important Energy Project will be Accomplished Soon&#8221; &#8212; Pakistan In the World\" src=\"https:\/\/pakistanintheworld.pk\/live\/h-e-mohammad-ali-hosseini-iran-ready-to-supply-gas-electricity-to-pakistan-flights-should-be-increased-important-energy-project-will-be-accomplished-soon\/embed\/#?secret=OGpp7kK3VL#?secret=olRlP0J8jo\" data-secret=\"olRlP0J8jo\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<h5><strong>FM Bilawal Bhutto expressed his thoughts regarding Iran as : <\/strong><\/h5>\n<h5>A small reflection of our efforts was the joint inauguration of Mand-Pishin border marketplace and Gabd-Polan electricity project, by the Prime Minister of Pakistan and the President of Iran, on 18 May, 2023. This was not merely a \u2018brick and mortar\u2019 project &#8211; it was instead, an affirmation of our collective commitment to find collaborative solutions for the betterment of our two peoples.<\/h5>\n<h5>Today, countless schools, hospitals and households in Gwadar are run on electricity being provided by Iran. Proposals for the expansion of our cooperation in trade and economy, energy, and culture and arts are underway. I am confident that the steps we are taking today will chart the course for a long-term and durable economic partnership between our two countries in the months and years ahead.<\/h5>\n<h5>Pakistan and Iran enjoy a complete convergence of views on all issues of mutual interest \u2013 we believe that our prosperity and development is firmly intertwined with peace and stability of our neighbourhood and the region. Pakistan espouses a vision for greater regional integration based on enhanced trade and connectivity. This is fully aligned President Raisi\u2019s policy of \u201cNeighborhood First\u201d.<\/h5>\n<p><iframe loading=\"lazy\" title=\"Foreign Minister Hossein Amir Abdollahian &amp; FM Bilawal Hold Wide Ranging Delegation Level Talks\" width=\"696\" height=\"522\" src=\"https:\/\/www.youtube.com\/embed\/9ZsQ-mfyQ-I?start=4&#038;feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/p>\n<h5>To this end, we have agreed to prioritize operationalization of the five remaining border markets, by the end of this year. We also discussed ways and means to leverage our unique strategic location, as a \u2018conduit\u2019 between South, Central and West Asia. I and Foreign Minister Abdollahian agree that the ECO is uniquely placed to play this role. As founding members of the Organizations, we will work with other ECO states towards achieving this goal.<\/h5>\n<h5>We have also decided to release all fishermen in custody in Pakistan and Iran, to waive-off any fines imposed on them and to release their vessels. The two sides will exchange list of prisoners, to put into practice this understanding, expeditiously. We also reaffirmed our commitment to keep our common border as one of peace and friendship.<\/h5>\n<h5>Regarding the situation in Afghanistan, Pakistan and Iran agreed to continue their active engagement with a view to advancing peace and stability in Afghanistan, and to promote the well-being and prosperity of our Afghan brothers and sisters.<\/h5>\n<figure id=\"attachment_21922\" aria-describedby=\"caption-attachment-21922\" style=\"width: 500px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" loading=\"lazy\" class=\"wp-image-21922 size-full\" src=\"https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2023\/08\/Iran-FM-PM-e1691097219650.jpg\" alt=\"\" width=\"500\" height=\"363\" srcset=\"https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2023\/08\/Iran-FM-PM-e1691097219650.jpg 500w, https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2023\/08\/Iran-FM-PM-e1691097219650-300x218.jpg 300w, https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2023\/08\/Iran-FM-PM-e1691097219650-324x235.jpg 324w\" sizes=\"(max-width: 500px) 100vw, 500px\" \/><figcaption id=\"caption-attachment-21922\" class=\"wp-caption-text\">Foreign Minister of Iran, Mr. Hossein Amir Abdollahian, calls on Prime Minister Muhammad Shehbaz Sharif in Islamabad on 3rd of August, 2023.<\/figcaption><\/figure>\n<h5><strong>Meeting with Prime Minister<\/strong><\/h5>\n<h5>The Foreign Minister of Iran, Mr. Hossein Amir Abdollahian, called on the Prime Minister, Muhammad Shehbaz Sharif in Islamabad today. Underscoring the close brotherly relations between the two countries, the Prime Minister reaffirmed Pakistan\u2019s commitment to further strengthen these ties, with particular focus on enhancing cooperation in the economic domain.<\/h5>\n<h5>Recalling the joint inauguration, with President Ebrahim Raisi, of the Mand-Pishin border marketplace on 18 May 2023, the Prime Minister stressed that initiatives aimed at economic uplift of the border areas, were a tangible manifestation of the shared priority to collectively work for the betterment of our two peoples.<\/h5>\n<figure id=\"attachment_21923\" aria-describedby=\"caption-attachment-21923\" style=\"width: 400px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" loading=\"lazy\" class=\"size-full wp-image-21923\" src=\"https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2023\/08\/Iran-FM-PM-1.jpg\" alt=\"\" width=\"400\" height=\"291\" srcset=\"https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2023\/08\/Iran-FM-PM-1.jpg 400w, https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2023\/08\/Iran-FM-PM-1-300x218.jpg 300w, https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2023\/08\/Iran-FM-PM-1-324x235.jpg 324w\" sizes=\"(max-width: 400px) 100vw, 400px\" \/><figcaption id=\"caption-attachment-21923\" class=\"wp-caption-text\">Foreign Minister of Iran, Mr. Hossein Amir Abdollahian, calls on Prime Minister Muhammad Shehbaz Sharif in Islamabad on 3rd of August, 2023.<\/figcaption><\/figure>\n<h5>Noting that President Raisi\u2019s policy of \u2018Neighborhood First\u2019 was fully aligned with his vision of a secure, prosperous and interconnected region, the Prime Minister stressed the importance for Pakistan and Iran leveraging their unique geographical location to promote mutually reinforcing goals of regional peace and prosperity, through greater trade and enhanced regional connectivity.<\/h5>\n<h5>The Prime Minister added that the Economic Cooperation Organization (ECO) was uniquely placed to play this role. Expressing deep concern at the rising incidents of Islamophobia and anti-Muslim hatred, the Prime Minister underlined Pakistan\u2019s firm resolve to work with other Islamic countries, including Iran, in articulating a unified view against such despicable acts, aimed at sowing disharmony and divisions within communities and between societies.<\/h5>\n<h5>Pakistan-Iran relations are characterized by frequent exchanges at the leadership level, commonality of views on important regional and global issues and strengthened cooperation in all areas of mutual interest.<img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-21918\" src=\"https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2023\/08\/Iran-Speaker.jpg\" alt=\"\" width=\"500\" height=\"204\" srcset=\"https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2023\/08\/Iran-Speaker.jpg 500w, https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2023\/08\/Iran-Speaker-300x122.jpg 300w\" sizes=\"(max-width: 500px) 100vw, 500px\" \/><\/h5>\n<h5><strong><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">Meeting with Speaker<\/span><\/strong><\/h5>\n<h5><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">Foreign Minister of Iran H.E. Dr. Hossein Amirabdollahian led delegation called on National Assembly Speaker Hon. Raja Pervez Ashraf, today, at the Parliament House. They discussed various regional and international issues and further enhancement of political and economic ties between the two brotherly states with special emphasis on promoting parliamentary cooperation.<img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-21919\" src=\"https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2023\/08\/Iran-Speaker-1.jpg\" alt=\"\" width=\"400\" height=\"376\" srcset=\"https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2023\/08\/Iran-Speaker-1.jpg 400w, https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2023\/08\/Iran-Speaker-1-300x282.jpg 300w\" sizes=\"(max-width: 400px) 100vw, 400px\" \/><\/span><\/h5>\n<h5><strong>Meeting with Chairman Senate<\/strong><\/h5>\n<h5>Abdollahian will also call on Senate Chairman Sadiq Sanjrani to discuss parliamentary linkages between the two countries, according to an FO statement issued prior to Abdollahian\u2019s arrival.<\/h5>\n<h5>\u201cFM Abdollahian\u2019s visit will be an opportunity for the two sides to discuss the entire range of bilateral ties with particular focus on regional connectivity, energy, and economic and investment ties between Pakistan and Iran,\u201d it added.<\/h5>\n<h5>It further stated that Abdollahian\u2019s arrival was preceded by the arrival of a high-ranking delegation, including Iran\u2019s deputy foreign minister for economic affairs and senior officials from the Ministries of Trade, Roads and Urban Development, Investment, Agriculture and Energy for preparatory meetings.<img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-21920\" src=\"https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2023\/08\/Iran-FM-Senate.jpg\" alt=\"\" width=\"600\" height=\"315\" srcset=\"https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2023\/08\/Iran-FM-Senate.jpg 600w, https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2023\/08\/Iran-FM-Senate-300x158.jpg 300w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/h5>\n","protected":false},"excerpt":{"rendered":"<p>Tazeen Akhtar Two neighbors and two brothers as well Pakistan and Iran have put the bilateral cooperation onto a way forward where both can transform their neighborhood and historical religious, cultural, traditional ties into meaningful trade and economic cooperation. The bilateral cooperation that was a priority of both of them but the proxies, regional dynamics [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21913,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83,91],"tags":[1850,3776,162,2361,1165,3775,1622,3777,197,1167,373,1166,319,48,124],"_links":{"self":[{"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/posts\/21911"}],"collection":[{"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/comments?post=21911"}],"version-history":[{"count":7,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/posts\/21911\/revisions"}],"predecessor-version":[{"id":21925,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/posts\/21911\/revisions\/21925"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/media\/21913"}],"wp:attachment":[{"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/media?parent=21911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/categories?post=21911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/tags?post=21911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}