Pakistan and Iran have agreed to significantly deepen their economic partnership, setting an ambitious target of increasing bilateral trade to $10 billion, following a high-level meeting between business and diplomatic leaders.

The agreement was reached during an important meeting between President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Atif Ikram Sheikh and Iranian Consul General Akbar Esazadeh.

Both sides emphasized the need to strengthen trade ties through structured engagement, increased trade volume, and institutional collaboration.

Pak-Iran Joint Trade Committee

During the meeting, it was agreed to establish a Pak-Iran Joint Trade Committee to facilitate coordination, remove trade barriers, and promote sustained commercial growth between the two neighbouring countries.

The committee will serve as a platform for regular dialogue between public and private stakeholders to accelerate trade expansion.

Participants stressed the importance of enhancing the role of the private sector in strengthening economic and industrial cooperation.

FPCCI President Atif Ikram Sheikh highlighted that business-led initiatives and cross-border partnerships would be key to achieving the $10 billion trade target.

Qazvin Chamber delegation to attend Karachi exhibition

The meeting also noted the special participation of the head and members of the Qazvin Chamber of Commerce in an upcoming trade and industrial exhibition in Karachi.

This participation is expected to open new channels for business matchmaking, industrial collaboration, and export diversification.

Detailed discussions were held on joint investment opportunities in several key sectors, including agriculture, the chemical industry, LNG, and the broader energy sector.

Both sides agreed that collaboration in these areas could unlock long-term economic benefits and enhance regional value chains.

Regional access, employment growth

Strengthening Pak-Iran trade relations was described as a pathway to improved access to regional and international markets, along with increased employment opportunities in both countries.

Officials noted that deeper economic integration would also support industrial growth and regional connectivity.

The meeting acknowledged the role of SIFC’s visionary strategy, which participants said is contributing to noticeable improvements in Pakistan’s international standing and economic relations.

The framework was described as instrumental in attracting investment and promoting regional economic cooperation.