Pakistan and Iran took a significant step towards strengthening economic ties as the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) signed a Memorandum of Understanding (MoU) aimed at expanding bilateral trade, investment, and private sector cooperation.
FPCCI, Iran chamber sign MoU to boost bilateral trade, target $10 billion
ISLAMABAD, Aug 6 (APP):Pakistan and Iran took a significant step towards strengthening economic ties as the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) signed a Memorandum of Understanding (MoU) aimed at expanding bilateral trade, investment, and private sector cooperation.
The agreement was signed during the closing ceremony of the 10th session of the Pakistan-Iran Joint Trade Committee in Islamabad. FPCCI President Atif Ikram Sheikh signed the MoU on behalf of Pakistan, while ICCIMA Vice President Hossein Pirmoazzen represented the Iranian side.
The two-day Joint Trade Committee meeting was co-chaired by Federal Minister for Commerce Jam Kamal Khan and Iran’s Minister for Industry, Mines and Trade Dr. Mohammad Atabak. Both sides held extensive discussions on enhancing trade and economic collaboration and agreed on a comprehensive roadmap to address key challenges faced by businesses in both countries.
Under the MoU, FPCCI and ICCIMA pledged to promote barter trade, strengthen business-to-business linkages, encourage industrial cooperation and investment, facilitate the implementation of bilateral trade agreements, and activate joint border markets to increase cross-border commercial activities.
The ceremony was attended by senior officials and business leaders from both countries, including FPCCI Vice President Tariq Khan Jadoon, FPCCI Capital Office Incharge Karim Aziz Malik, Iranian Ambassador to Pakistan Dr. Reza Amiri Moghadam, and representatives of leading Iranian chambers of commerce, industry, shipping, transportation, agriculture, and manufacturing sectors.
Addressing the ceremony, FPCCI President Atif Ikram Sheikh described the Joint Trade Committee meeting in Islamabad as a historic milestone in Pakistan-Iran economic relations. He reaffirmed the Pakistani business community’s commitment to working closely with its Iranian counterparts to achieve the shared objective of increasing bilateral trade to $10 billion.
He welcomed the comprehensive plan agreed upon by both governments to resolve border-related trade issues and emphasized the importance of sustained cooperation between the private sectors of both countries. He expressed confidence that stronger institutional collaboration between FPCCI and ICCIMA would create new opportunities for trade, investment, industrial partnerships, and regional economic integration.
The session concluded with the signing of the agreed minutes by the commerce ministers of Pakistan and Iran, reflecting the outcomes of the two-day deliberations and outlining future cooperation across a broad range of trade and economic sectors.
