Jam Kamal holds meetings with Iranian ministers.
ISLAMABAD – Pakistan and Iran have stressed the need for promoting barter trade, signing free trade agreement (FTA) and activating border markets, saying these steps are very crucial to enhance the trade between the two countries. Federal Minister for Commerce Jam Kamal Khan called on Seyyed Muhammad Atabak, Minister of Industry, Mine and Trade, Islamic Republic of Iran. Welcoming the minister for commerce and his accompanying delegates, Atabak also paid condolences and sympathies for flood-hit families who lost their loved ones.
He added that since the visit of Dr Pezeshkian to Pakistan, the bilateral trade has improved a lot. The trade target of 10 billion dollars is achievable by mutual efforts and enhanced people to people contacts. Jam Kamal thanked the Iranian minister for acknowledging the devastating flood effects in Pakistan. Referring to visit of Dr Pezeshkian to Pakistan, he added it is a testimony of the trust of government of Iran on Pakistan. The consistent visits on both sides show our progressive approach to achieve our trade target, he added.
Meeting of Joint Economic Commission (JEC) will chalk out the ways to remove the impediments to facilitate trade activities. Our trade figures have reached 3 billion dollars which is very heartening. Both the ministers stressed the need for promoting barter trade. The signing of free trade agreement (FTA) and activation of border markets is very crucial to enhance the trade, they said. Both sides are working on the finalization of list of commodities to be shared with each other. They also agreed on enhancing interconnectivity through improved road and rails infrastructure and port development. Kamal mentioned that as per vision of Prime Minister Shehbaz Sharif, the private sector is being facilitated to enhance trade volume. A significant raise in export of Pakistani rice and meat to Iràn is seen in recent months.
Meanwhile, Jam Kamal Khan and Ms Farzaneh Sadegh, Minister of Roads and Urban Development, Islamic Republic of Iran, formally inaugurated the 22nd meeting of Joint Economic Commission between Pakistan and Iran at Tehran. During his inaugural remarks, Kamal said, “Pakistan attaches high value to its relations with Iran. Trade and investment is the core of our trade policy. Private sector and chambers of commerce should play active role to enhance the trade volume. Our government is fully committed to support and facilitate the private sector to do business with Iran. The mutual cooperation in services sector, agriculture and animal husbandry, scientific research and food security can bring benefits to the region.” Regional connectivity through roads, rail, maritime and air can prove a game changer and serve as a gateway to the Central Asia, South Asia and Middle East as well. The minister added that the materialization of such projects will create job opportunities and economic activities.
Ms Farzaneh Sadegh welcomed the participants and highlighted the importance of this forum. She said the deliberations in these sessions will lead to roadmaps for the future and the follow-ups will definitely bring results. Both the leaders, while co-chairing the meeting, said that in the present scenario both sides can benefit from the experiences in water management, disaster management and environmental change. In other development, federal minister for commerce held a comprehensive bilateral meeting with Ms Farzaneh Sadegh, Iran’s Minister of Road and Urban Development, on the sidelines of the Pakistan–Iran Joint Economic Commission. Both ministers were accompanied by senior officials and led their respective delegations.
During the meeting, the two sides reviewed progress on key areas of cooperation including road and rail connectivity, facilitation of border markets, customs data sharing, and enhancement of maritime services. They underlined the importance of improving cross-border infrastructure to boost trade and people-to-people linkages. Jam Kamal Khan expressed appreciation to Ms Sadegh for organizing and facilitating the 22nd Session of the Joint Economic Commission, noting that Pakistan attaches high priority to expanding its economic partnership with Iran through better connectivity and coordinated institutional support.
