Pak, Iran chalk out five-year trade cooperation plan with $5bn target

Pakistan and Iran have chalked out a five-year trade cooperation plan with a trade target of five billion dollars. Foreign Minister Bilawal Bhutto Zardari, at a joint press conference with his Iranian counterpart Hossein Amir-Abdollahian in Islamabad, said the five-year plan was envisaged to run from 2023 to 2028. Bilawal said the plan is aimed at removing impediments to bilateral trade, finalisation of the Free Trade Agreement and establishment of institutional linkages between private sectors of both countries. Live: Joint Press Stakeout by Foreign Minister of Pakistan Bilawal Bhutto Zardari and Foreign Minister of Iran Hossein Amir-Abdollahian https://t.co/8sRCZz3KQF — Pakistan Peoples Party - PPP (@PPP_Org) August 3, 2023 Bilawal added that Pakistan encompasses a vision for enhanced trade, which is fully aligned with Iranian President Ebrahim Raisi's policy of neighbourhood first. "To this end, we have agreed to prioritize the operationalisation of the five remaining border markets by the end of this year." Bilawal said it has been decided to repatriate all sentenced prisoners as per provisions of agreements between the two sides and added that it has also been decided to set free fishermen in custody and to waive off any fine imposed by the authorities of both countries for the release of their vessels. He further said the two sides will exchange lists of prisoners to put into practice this understanding expeditiously. The foreign minister also discussed the grave human rights situation in Indian Illegally Occupied Jammu and Kashmir (IIOJK). He said we are grateful to the Iranian leadership for its firm and consistent support of the legitimate cause of the Kashmiri people. Regarding the situation in Afghanistan, the foreign minister said we agreed to continue our active engagement with a view of advancing peace and stability in Afghanistan to promote the well-being and prosperity of Afghan brothers and sisters. He said we also agreed to continue our cooperation to counter Islamophobia and anti-Muslim hatred. Speaking on the occasion, the Iranian diplomat called for promoting cooperation in economy, trade and tourism under regional mechanisms. He said the two sides are fully committed to increasing the bilateral trade to $5 billion. He added we have agreed to set up a special economic free trade region along the common border points. Hossein Amir-Abdollahian further said the two countries will take immediate steps for the release of fishermen and their vessels. He said convicted prisoners on both sides will be exchanged. Emphasising the completion of the Pakistan-Iran gas pipeline, Iran's top diplomat said it will definitely serve the national interests of the two countries. He also condemned the most recent terrorist attack in Bajaur and extended sympathies with the affected people and the government of Pakistan.