Pakistan, Iran Aim to Boost Trade to $10 Billion as PM Shehbaz Visits Tehran

TEHRAN: Prime Minister Shehbaz Sharif has expressed hopes to increase Pakistan-Iran bilateral trade from the current $3 billion to $10 billion in the coming years, highlighting strong growth potential between the two neighboring countries.

Speaking to Iran’s state news agency IRNA ahead of his visit to Tehran, the Prime Minister said trade between the two nations had significantly grown in the past three to four years. “We are aiming for $10 billion, but the actual potential is even higher,” he said, adding that discussions for a Free Trade Agreement (FTA) are also underway.

He emphasized the importance of long-term economic cooperation, especially between Pakistan’s Balochistan and Iran’s Sistan-Baluchestan provinces. “Stronger economic ties between these border regions can help boost development and also combat terrorism,” he noted.

Shehbaz Sharif is visiting Iran at the invitation of President Masoud Pezeshkian after concluding his official visit to Turkiye. He said one key purpose of the visit is to thank Iran for its support during Pakistan’s conflict with India, particularly its offer to mediate — an offer Pakistan accepted but India rejected.

The Prime Minister stressed the need for sustained bilateral engagement and praised the strong ties between Pakistan and Iran. He also reaffirmed both countries’ support for the Muslim Ummah and regional peace efforts.

On regional issues, Shehbaz Sharif reiterated that lasting peace cannot be achieved without resolving the Kashmir and Palestine issues in line with the wishes of the affected people.