Pakistan and Iran today vowed to boost bilateral trade to $5-8 billion annually, focusing on enhanced border cooperation and streamlined trade mechanisms, announced officials during high-level talks in Islamabad.

The discussions took place during Iranian President Masoud Pezeshkian’s visit, with Pakistan’s Commerce Minister, Jam Kamal Khan, and Iranian Industry Minister, Mohammad Atabak, leading the dialogue. Both sides stressed the need for swift action to capitalize on the current momentum. Minister Atabak credited Pakistan’s proactive approach for recent progress, stating that the present energy must yield tangible trade results.

Khan concurred, emphasizing the urgency of leveraging this opportune moment. He proposed structured channels like the Joint Economic Commission (JEC), business-to-business exchanges, and sector-specific delegations, similar to Pakistan”s successful model with Belarus, to accelerate collaborations. Key sectors identified for cooperation include agriculture, livestock, services, energy, and cross-border logistics.

Both ministers agreed on maximizing existing trade routes and border infrastructure, emphasizing regional trade”s potential, like the ASEAN model. Khan stressed utilizing geographical proximity to reduce time and costs. Beyond bilateral benefits, this connectivity could extend to Turkey, Central Asia, Russia, and the Middle East, creating a powerful economic bloc.

Atabak proposed regular business-to-business meetings during high-level visits, offering to bring Iranian business delegations to Pakistan. He encouraged prompt action on recent agreements, emphasizing that businesses in both nations are prepared. What they require now is efficient facilitation.

Highlighting cultural and linguistic commonalities, Khan shared an anecdote about communicating in Balochi with a free zone CEO, emphasizing the deep-rooted connections between communities. This people-to-people connection, he stated, forms a robust base for lasting economic integration. Both officials committed to expedite the next Pakistan-Iran Joint Economic Commission session, ensuring participation from both public and private sectors, and prioritizing border procedures and trade logistics. The message was clear: it”s time to act. With strong political alignment and mutual faith, Pakistan and Iran seem ready for a new era of strategic economic cooperation with potential to reshape regional trade.