Pakistan, Iran Aim to Boost Trade to $10 Billion as PM Shehbaz Visits Tehran
TEHRAN: During his official visit to Iran, Prime Minister Shehbaz Sharif stressed the importance of enhancing trade relations between Pakistan and Iran, expressing the goal of increasing bilateral trade to at least $10 billion in the coming years. Currently, trade between the two neighboring countries stands at around $3 billion, but both sides believe the potential is significantly greater.
Speaking to Iran’s official news agency IRNA, PM Shehbaz noted the rapid growth in trade over the last few years and stressed the urgency of finalizing a Free Trade Agreement (FTA) to unlock greater economic opportunities. “We are working to deepen trade and investment links through policy support, business facilitation, and improved connectivity,” he said.
Focus on Border Regions
The Prime Minister also pointed to the vital role of border provinces—Pakistan’s Balochistan and Iran’s Sistan-Baluchestan—in enhancing economic ties. He stressed that improved trade and connectivity in these regions would not only spur development but also help curb terrorism and smuggling by providing alternative livelihoods.
Both governments are considering joint infrastructure projects, including border markets, upgraded customs facilities, and energy cooperation such as cross-border electricity trade and pipeline development.
Diplomatic Significance
PM Shehbaz’s visit to Tehran follows his recent trip to Turkiye and comes at the invitation of newly elected Iranian President Masoud Pezeshkian. During high-level meetings in Tehran, both leaders reaffirmed their commitment to strengthening bilateral relations across multiple sectors, including energy, agriculture, pharmaceuticals, tourism, and transport.
The Prime Minister also expressed gratitude to Iran for standing by Pakistan diplomatically during its tense standoff with India. He recalled Iran’s willingness to mediate, which Pakistan accepted, though India refused the offer. “Iran has always stood with us during critical times, and we value that friendship,” Shehbaz said.
Shared Vision on Muslim Ummah and Regional Stability
Prime Minister Shehbaz Sharif underscored the deep religious and cultural ties between Pakistan and Iran, reaffirming both nations’ joint dedication to the unity and welfare of the Muslim Ummah. He underscored the need for unity among Muslim countries, particularly in the face of rising Islamophobia and instability in the Middle East.
On broader regional issues, the Prime Minister reiterated Pakistan’s stance on Kashmir and Palestine, calling for lasting peace based on the aspirations of the people. “Without resolving these core issues, durable peace in South Asia and the Middle East cannot be achieved,” he stated.
Looking Ahead
As part of the visit, several bilateral agreements and MoUs are expected to be signed in sectors such as trade, investment, security cooperation, and higher education. The leaders also plan to review progress on ongoing joint projects and discuss ways to resolve long-standing banking and payment system challenges that have hindered trade.
PM Shehbaz is scheduled to visit Mashhad, the second-largest city in Iran, where he will pay respects at the holy shrine of Imam Reza (AS) and meet with regional business leaders and officials.
