Pakistan, Iran to work in regional markets

See huge potential for bilateral trade that has not yet been realised

ISLAMABAD:

Pakistan and Iran have discussed the potential for engaging in further close cooperation between the two countries in regional markets and beyond by leveraging the platform of Shanghai Cooperation Organisation (SCO) to facilitate growth in trade and regional stability.

There was a huge potential for bilateral trade, however, it was yet to be realised, acknowledged the trade ministers of both countries.

On the sidelines of the SCO 2024 summit in Islamabad, Federal Minister for Commerce Jam Kamal Khan held a productive meeting with Iran's Minister for Industry, Mining and Trade Mohammad Atabak. The discussion focused on strengthening trade relations, enhancing industrial cooperation and cultural exchanges.

During the meeting, both ministers emphasised the importance of boosting economic ties through increased bilateral trade and investment. They also explored avenues of collaboration in sectors of mutual interest.

Jam Kamal Khan highlighted the strategic location of both countries as a gateway to Central Asia and the Middle East. He stressed the need for forging stronger economic cooperation between Pakistan and Iran, not only to enhance bilateral trade but also to promote prosperity in the wider region.

Both sides expressed their commitment to continuing discussions and developing action plans to overcome trade barriers and streamline regulations to facilitate smoother business interactions. They underscored the importance of regional cooperation through platforms like SCO, as both looked to enhance their roles in the global market.