Key Takeaways
- Federal Minister for Commerce Jam Kamal Khan co-chairs the 10th Pakistan-Iran Joint Trade Committee (JTC) with Iran’s Minister for Industry, Mine and Trade Dr. Mohammad Atabak.
- Both countries aim to achieve a shared target of $10 billion in annual bilateral trade.
- The meeting focuses on facilitating border trade through measures such as easing customs procedures.
Federal Minister for Commerce Jam Kamal Khan and Iran’s Minister for Industry, Mine and Trade Dr. Mohammad Atabak co-chaired the 10th Pakistan-Iran Joint Trade Committee (JTC) in Islamabad, reaffirming their commitment to strengthening bilateral economic cooperation.
The meeting, held from August 3-5, aimed at achieving a shared target of $10 billion in annual bilateral trade between the two countries.
Both ministers underscored the importance of transforming ‘historic brotherly relations’ into a robust economic partnership, with Khan calling for the finalisation of the Pak-Iran Free Trade Agreement.
During the meeting, measures to facilitate border trade were discussed, including easing customs procedures and formalising Taftan as a customs station.
The ongoing US-Iran conflict in the Middle East has strained economies in the region, prompting both countries to take steps to boost their bilateral trade.
Khan highlighted the urgency of removing barriers in border logistics and cargo movement, suggesting that joint border markets and electronic data interchange could significantly enhance trade flows.
Both sides reviewed measures already taken to enhance bilateral commerce at the meeting. The commerce minister expressed hope that this JTC would help evolve a practical roadmap for achieving their shared target.
Since March this year, Pakistan and Iran have rolled out several initiatives aimed at facilitating border trade, including new transit routes and formalising Taftan as a customs station.
