Pakistan, Iran conclude trade talks, advance FTA negotiations
https://www.dawn.com/news/2020881
Pakistan and Iran concluded a three-day Joint Trade Committee meeting on Wednesday, with successful advancements towards finalizing technical details for a proposed Free Trade Agreement (FTA). Officials indicated that the commencement of technical-level discussions at the 10th Joint Trade Committee session has paved the way for a swift completion of the FTA, with aspirations to meet the bilateral trade target of $10 billion.
However, no precise deadline was disclosed for this ambitious trade objective. The concluding session was jointly chaired by Commerce Minister Jam Kamal Khan of Pakistan and Iran's Minister of Industry, Mines, and Trade, Dr Mohammad Atabak. Following the talks, the two ministers signed the agreed minutes, encapsulating the understandings reached during the deliberations.
Both sides expressed satisfaction with the progress on the proposed FTA, encompassing rules of origin, tariff-reduction mechanisms, product lists, and more. The meeting also delved into expanding barter trade, enhancing business-to-business linkages, bolstering industrial cooperation and investment, boosting private-sector involvement, and activating joint border markets.
Commitments were made to enhance trade facilitation, customs coordination, transportation, logistics, and border infrastructure to facilitate the seamless movement of commercial cargo, especially perishable goods. The JTC concluded with a pledge to further deepen economic cooperation and strive towards the shared goal of $10 billion in annual trade.
Both ministers stressed the importance of ongoing coordination and prompt implementation of decisions before the subsequent Joint Trade Committee meeting. Dr Atabak also met with Pakistani Prime Minister Shehbaz Sharif, who affirmed Pakistan's deep appreciation for its relationship with Iran, describing it as a brotherly neighbor.
The premier reiterated Pakistan's commitment to peace in the region, while Atabak acknowledged Islamabad's diplomatic efforts for regional peace and solidarity with Iran.
Written by urgent.news from Dawn Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
