Iran, Pakistan Set $5 Billion Trade Target in 5 Years

Speaking with IRIB on Saturday, Head of the Trade Promotion Organization of Iran (TPOI) for Indian Subcontinent Affairs Hadi Talebian Moghaddam said Pakistan, which has about 1,000 kilometers of land border, is very important for Iran.

Focusing on trade exchanges with the Asian countries, especially the neighbors, is the main approach of the administration of Iranian President Ebrahim Raisi, which can be clearly observed in policies of the government, he underlined.

Talebian Moghaddam referred to the visit of Iranian Foreign Minister Hossein Amirabdollahian to Pakistan and added that a five-year strategic trade cooperation document was inked for a five-year period.

Under the document, the trade value between Iran and Pakistan will increase up to $5 billion in five years, he stressed.

Elsewhere in his remarks, the Iranian official pointed to the Preferential Trade Agreement (PTA) between Iran and Pakistan, saying such agreement was launched in 2006 in line with policies to bolster trade and economic ties.

The fifth round of Iran-Pakistan Business Forum will kick off next month, he added.

He then pointed to Pakistan’s willingness for bartering goods with Iran and stated that the bartering deal had been already carried out between the two countries traditionally and in very low volumes, but this important issue will be strengthened in the current administration optimally.