The Pakistan-Iran Joint Economic Commission (JEC) meeting concluded in Tehran on Tuesday with the signing of key protocols, where both sides reaffirmed the resolve to achieve the $10 billion trade target.
The 22nd session of the JEC marked a significant step forward in strengthening economic, commercial and cultural ties between Pakistan and Iran, underscoring a shared commitment to mutual prosperity and enhanced bilateral cooperation.
The Pakistani delegation was led by Federal Minister for Commerce Jam Kamal Khan and the Iranian delegation was headed by Minister for Roads and Urban Development Farzaneh Sadegh.
The session reviewed bilateral relations and agreed on a strong framework for future cooperation. Emphasis was laid on expanding collaboration across various sectors, including trade, investment, energy, agriculture, transport, housing, health, education and cultural exchanges. At the conclusion, both ministers signed the relevant protocols.
Key outcomes of the 22nd JEC session included the commitment to achieving the bilateral trade target of $10 billion, as envisioned by the leadership of both nations. In trade and investment, both sides emphasised the removal of tariff and non-tariff barriers, operationalising border markets and promotion of regular business-to-business meetings to enhance commercial ties.
In energy and infrastructure, consensus was reached on enhancing electricity supply, including the resumption of construction of a 220-kilovolt transmission line to Gwadar and exploring renewable energy projects.
A joint working group will promote investment in the power sector, while cooperation in water resource management and sustainable urban development was also prioritised.
In agriculture and environment, both sides committed to implementing agreements on veterinary health, combating pests and collaborating in agricultural seeds and equipment, alongside joint strategies to address climate challenges like sand and dust storms and mangrove conservation.
Transportation and connectivity were the key areas of focus, where agreements were inked to strengthen road, rail, air and maritime transport linkages. These included increasing rail cargo volumes, enhancing air navigation services and exploring ferry services for passengers, including pilgrims, between seaports.
Cultural and educational ties were bolstered through plans for cultural festivals, media collaborations, academic partnerships, student exchanges and vocational training programmes.
Health sector collaboration was advanced with agreements on joint training, pharmaceutical registration and cross-border disease surveillance.
A joint committee on labour cooperation will facilitate worker mobility in sectors such as construction, textile and agriculture. Both nations also reaffirmed their commitment to counter-narcotics efforts through intelligence-based operations and enhanced border cooperation, while proposals to streamline visa processes for businessmen and drivers were discussed.
On the sidelines of the JEC, a joint business forum was organised, which brought together leading businesses from both countries. It provided an opportunity for private sectors of Pakistan and Iran to explore new avenues of cooperation and complement governmental efforts to deepen bilateral trade and investment.
Addressing the closing session of the JEC, Jam Kamal expressed satisfaction over the successful conclusion of talks and the signing of a comprehensive protocol that sets a clear roadmap for cooperation.
He emphasised the mutual commitment of both countries to enhance collaboration in trade, investment, transportation, customs facilitation and industrial development.
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