Iran and Oman reach understanding on coordinates of route through Hormuz, Iran ministry says
DUBAI, Aug 5 (Reuters) - Iran and Oman have reached an understanding on the geographic coordinates for a shipping route through the Strait of Hormuz, and a joint announcement is being finalised, provided certain third parties did not interfere, Iran's Foreign Ministry spokesperson Esmaeil Baghaei said on Wednesday. Baghaei added that any such agreement between Iran and Oman would not, by itself,…
On Wednesday, Pakistan and Iran reached an agreement to further bolster their trade relations by keeping border crossings open continuously, enhancing logistics and aligning customs procedures. This decision was made during a meeting in Islamabad between Prime Minister Shehbaz Sharif and a six-member Iranian delegation led by Industry, Mine and Trade Minister Mohammad Atabak, according to a Prime Minister’s Office statement.
Prime Minister Shehbaz Sharif emphasized Pakistan's deep appreciation for its close, brotherly ties with Iran, vowing to continue efforts for regional peace and cooperation. He also mentioned recent productive discussions with Iranian President Masoud Pezeshkian on promoting lasting peace and strengthening bilateral relations, particularly in trade.
The prime minister expressed optimism that persistent efforts would help both nations achieve their $10 billion bilateral trade target, setting by their leadership. He highlighted the potential benefits of increased trade, especially in food, agricultural commodities, and related products.
The meeting also agreed to boost border trade by expanding facilities to keep border crossings operational around the clock. Both sides pledged to deepen cooperation in the mining sector, particularly in processing and adding value to precious stones. Iranian Minister Atabak expressed gratitude to Pakistan for its warm hospitality and its sincere diplomatic efforts for regional peace.
He praised Pakistan's leadership and people, stating that Iran is keen to expand its economic and trade ties with Pakistan. He added that technical-level negotiations for a Free Trade Agreement (FTA) between the two countries are currently underway.
In April, Pakistan had notified six transit routes for transporting goods to Iran via its sea ports in Gwadar and Karachi, amid reports of thousands of containers destined for Iran waiting clearance at Pakistani ports. Since March, both nations have introduced several measures to facilitate border trade, such as easing customs procedures, formalizing Taftan as a customs station, and notifying new transit routes, amid the ongoing US-Iran conflict in the Middle East, which has adversely impacted regional economies.
Written by urgent.news from Dawn's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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