Iran, Pakistan sign 5-year strategic plan to boost trade cooperation

Iran and Pakistan on Thursday signed a five-year strategic plan for enhancing bilateral trade cooperation, said the Iranian Foreign Ministry in a statement.

The document was signed by visiting Iranian Foreign Minister Hossein Amir-Abdollahian and his Pakistani counterpart Bilawal Bhutto Zardari at the end of their meeting in the Pakistani capital of Islamabad, according to the statement.

Speaking at the meeting, Amir-Abdollahian pointed to the recent "good" agreements signed between the two countries in line with ensuring lasting security along the common border, stressing that the agreements and their implementation will provide an appropriate context for expanding the all-out bilateral relations.

He said the visit was aimed at helping accelerate the implementation of more than 190 cooperation documents already signed between the two countries and starting "sustainable and long-term" bilateral cooperation.

The Iranian minister said since the beginning of Iranian President Ebrahim Raisi's administration in August 2021, the volume of bilateral trade has increased by more than 50 percent.

Zardari, for his part, said it is important to increase the two countries' trade exchanges and deepen economic cooperation.

The Pakistani foreign minister called for forming a strategic committee to follow up on the implementation of the previously-signed bilateral agreements.

Speaking at a joint press conference following the meeting, Amir-Abdollahian said the two countries are determined to raise the level of bilateral trade, reported Iran's official news agency IRNA.

He said "constructive talks" were held on finishing the construction of a gas pipeline from Iran to Pakistan.

Speaking at the same presser, Zardari said the progress of bilateral ties is evident in the recently-inaugurated border market and the project to transfer electricity from Iran to Pakistan.

Amir-Abdollahian arrived in Pakistan on Wednesday night for a three-day official visit.