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ISLAMABAD, Aug 03 (APP): Pakistan-Iran business forum on Sunday Committed to boost bilateral trade to $10 billion by 2028 .
Federal Minister for Commerce Jam Kamal Khan has reaffirmed Pakistan’s strong commitment to expanding trade and economic relations with Iran, expressing confidence in achieving the target of $10 billion in bilateral trade by 2028.
He was addressing the Pakistan-Iran Business Forum in Islamabad, held as part of the two-day official visit of Iranian President Dr. Masoud Pezeshkian to Pakistan.
In his welcome remarks, Jam Kamal Khan greeted the high-level Iranian delegation and emphasized the historical, cultural, and geographic ties between the two neighboring countries. “As someone from Balochistan, I know firsthand how vital cross-border trade with Iran is for our region’s livelihood,” he said.
The event was marked by the presence and speeches of President of Iran Dr. Masoud Pezeshkian and Pakistan’s Deputy Prime Minister Ishaq Dar, reflecting the strong political will on both sides to deepen bilateral economic engagement.
Iranian Minister of Industry, Mining, and Commerce Mohammad Atabak also addressed the forum, underlining Iran’s interest in enhancing trade and joint ventures with Pakistan.
Jam Kamal highlighted the recent reactivation of the Mand-Pishin Joint Border Market on July 30, calling it a major breakthrough for regional economic integration. He urged Iran to fast-track the operationalization of two more joint border markets at Chaghi-Kouhak and Gabd-Reemdan, which are seen as vital for the prosperity of bordering communities.
The Minister announced the finalization of the Pakistan-Iran Free Trade Agreement (FTA), adding that it will provide a structured framework for expanding trade. He called for the swift implementation of the barter trade mechanism, which can help address currency and payment-related constraints.
Other key areas of focus included the removal of non-tariff barriers, enhanced customs coordination, improved transport connectivity, and border infrastructure development.
Jam Kamal pointed to significant untapped potential in minerals, agriculture, and energy sectors, and invited Iranian businesses to explore investment opportunities in Pakistan. He noted that the Government of Pakistan remains committed to facilitating trade through policy reforms and private-sector engagement.
The Minister also confirmed that both sides have agreed to expedite the next session of the Pakistan-Iran Joint Economic Commission, which will play a pivotal role in resolving trade issues and unlocking new areas of cooperation.
In closing, Jam Kamal Khan thanked President Pezeshkian and other dignitaries for their participation, calling their presence a powerful sign of goodwill and shared ambition. “Let us work together to translate our longstanding friendship into stronger economic ties and a future of mutual prosperity,” he said.