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Pakistan and Iran Forge Five-Year Plan to Boost Bilateral Trade to $5 Billion

Date: August 03, 2023

Pakistan and Iran have come together to devise a comprehensive five-year plan aimed at elevating their bilateral trade to an impressive $5 billion. Foreign Minister Bilawal Bhutto Zardari, in a joint press conference alongside Iranian counterpart Hossein Amir Abdollahian, unveiled the trade cooperation plan. The initiative intends to address hurdles in bilateral trade, finalize a Free Trade Agreement, and establish institutional linkages between the private sectors of both nations.

Running from 2023 to 2028, the five-year plan sets forth a strategic framework for enhancing economic ties between Pakistan and Iran. During the meeting, the two leaders agreed on prioritizing the operationalization of the five remaining border markets by the end of 2024, fostering smoother cross-border trade.

Iranian Foreign Minister also had a meeting with Prime Minister Shehbaz Sharif to reinforce the close brotherly relations between the two countries. Prime Minister Shehbaz Sharif emphasized Pakistan’s unwavering commitment to strengthen ties with Iran, with a particular focus on bolstering economic cooperation. Notably, initiatives targeting the economic upliftment of border regions were highlighted as vital components in the quest for mutual prosperity.

The collaborative efforts between Pakistan and Iran aim to unlock new opportunities and drive economic growth, bringing mutual benefits to both nations and fostering greater regional stability.

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