Foreign Minister Bilawal Bhutto and his Iranian colleague, Hossein Amir Abdollahian, inked a five-year trade cooperation agreement, paving the way for stronger economic ties.
According to the details, Pakistan’s Foreign Minister Bilawal Bhutto Zardari and Iran’s Foreign Minister Hossein Amir Abdollahian held a joint news conference in Islamabad, highlighting the fruitful discussions on enhancing cooperation in various sectors such as trade, economy, energy, and regional issues.
During the summit, Bilawal Bhutto emphasised the two countries’ historical ties and lauded recent developments in bilateral trade. He announced the signing of a free trade deal and a five-year trade cooperation agreement, paving the way for stronger economic ties. The deal aims to increase commerce between Pakistan and Iran to a whopping $5 billion by 2028.
The Iranian Foreign Minister conveyed his sympathies for the recent terrorist attack in Bajaur and strongly condemned any acts of violence. He emphasised the relevance of the two countries’ gas pipeline project, claiming that it is in the best interests of both countries and their people.
In a press conference, Iran’s Foreign Minister stated that five more border markets will be activated by the end of the year, enabling trade and encouraging cultural interchange. He reiterated Iran’s commitment to increasing bilateral commerce and regional cooperation.
Furthermore, both countries have promised to free condemned detainees and take the appropriate actions. The talks also touched on the critical Iran-Pakistan gas pipeline project, which is approaching completion and is anticipated to assist both countries’ economies.
This joint news conference represents a watershed moment in Pakistan-Iran relations, reflecting a shared commitment to deepening ties and fostering cooperation in a variety of areas. With important agreements and memorandums of understanding inked, the two countries are ready to embark on a path of mutual prosperity and growth.