Pakistani and Iranian businessmen agreed to pursue the creation of a joint trade committee and work towards boosting bilateral trade to $10 billion during a meeting aimed at strengthening private-sector cooperation and facilitating cross-border commerce.  The discussions were held between Iran’s consul general in Karachi, Akbar Issa Zadeh, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), and a delegation from Iran’s Qazvin Chamber of Commerce.

The meeting focused on expanding commercial ties, identifying opportunities for joint investment in key sectors and addressing challenges hindering the growth of economic relations between the two neighbouring countries. FPCCI President Atif Ikram Sheikh, along with senior federation officials and sectoral representatives, underlined the importance of sustained efforts to raise bilateral trade volumes, stressing that both sides should capitalise on existing economic potential to reach the $10 billion target.

Participants discussed practical measures to deepen cooperation between the private sectors of Iran and Pakistan, with particular emphasis on increasing joint investments and strengthening industrial and economic partnerships. Business leaders highlighted the need for continued support for entrepreneurs, streamlined legal and administrative procedures, and improved trade facilitation mechanisms to accelerate commercial exchanges.

Chambers of commerce were described as key drivers of economic relations, with participants reaffirming their readiness to actively follow up on joint projects and translate commitments into concrete outcomes.  Private-sector representatives from both countries reviewed existing obstacles to trade and Exchanges of business delegations and closer institutional cooperation between the chambers of commerce were identified as priorities for enhancing private-sector engagement and easing investment flows.

Participants said closer coordination between private-sector initiatives and economic diplomacy would be essential to sustaining momentum in Iran–Pakistan trade ties, adding that further meetings would be needed to develop and implement operational plans to achieve shared goals.

Credit: Independent News Pakistan (INP)