Iran and Pakistan have agreed to “expeditiously” finalize a Free Trade Agreement (FTA), according to a joint statement released by the two countries.
According to the press release, “both sides agreed to expeditiously finalise the FTA and hold the next sessions of annual Bilateral Political Consultations (BPC) and Joint Business Trade Committee (JBTC) as well as the 22nd round of the negotiations of the Joint Economic Commission (JEC) in the near future” .
During Iranian President Ebrahim Raisi’s recent visit to Pakistan, Islamabad and Tehran reached an agreement to raise bilateral trade to $10 billion.
The two neighbours also agreed to “enhance mutual interaction through the regular exchange of high-level visits” and to promote the regular interchange of economic and technical specialists, according to the statement.
The joint statement also stated that the two nations proclaimed the Reemdan border point an international border crossing point under the TIR Convention and agreed to create cooperative border markets.
Maria Ghanchi