Karachi, Pakistan – In a significant development, the trade volume between Pakistan and Iran has soared to $10 billion, marking a milestone in their economic partnership. This announcement came amidst the visit of the Iranian president to Pakistan, signifying the dawn of a fresh chapter in bilateral relations.
Mr. Faraz Rahman, the founder and chairman of the Pakistan Business Group, lauded this achievement, highlighting the potential for further collaboration between the two nations. He emphasized the importance of President Raisi’s visit in fostering mutual cooperation and strengthening economic ties.
Currently, Pakistan’s exports to Iran stand at $1.448 billion, while imports amount to $842 million. Rahman stressed the importance of recent agreements, particularly in establishing joint economic free zones and collaborations across eight key sectors, as pivotal for Pakistan’s economic prosperity.
Echoing President Raisi’s sentiments, Rahman emphasized the need to transform challenges into opportunities, underscoring the shared commitment to bolstering trade relations. He expressed optimism about Iran’s potential to assist Pakistan, particularly in the energy sector, and advocated for the resolution of the Pakistan-Iran gas pipeline issue.
Rahman also proposed exploring avenues for local currency or barter trade to mitigate pressure on Pakistan’s foreign exchange reserves and achieve a more balanced trade relationship.
The visit of President Raisi, accompanied by a significant trade delegation, underscores both nations’ determination to deepen economic cooperation and unlock new avenues for growth. This latest development signals a promising future for Pakistan-Iran relations, with both countries poised to capitalize on their economic potential for mutual benefit.
