ISLAMABAD: Pakistan and Iran agreed to expeditiously finalise Free Trade Agreement and boost their bilateral trade to 0 billion dollar over next five years through joint economic projects.

According to joint statement issued here, both sides affirmed their commitment to transform their common border from ‘border of peace’ to ‘border of prosperity’ through joint development-oriented economic projects, including setting up of joint border markets, economic free zones and new border openings.

Agreeing to turn common border from ‘border of peace’ to ‘border of prosperity’, both countries reiterated importance of cooperation in energy domain, including trade in electricity, power transmission lines and Iran-Pakistan Gas Pipeline Project.

Both sides underscored imperative of long-term durable economic partnership and collaborative regional economic and connectivity model, particularly for socio-economic development in Iran’s Sistan-Balochistan and Pakistan’s Balochistan provinces.

Both leaders reiterated importance of forging regular cooperation and exchange of views between political, military and security officials of two countries to combat threats such as terrorism, narcotics smuggling, human trafficking, hostage-taking, money-laundering and abduction. They agreed to facilitate regular exchange of economic and technical experts, as well as delegations from chambers of commerce from both countries to intensify economic cooperation.

Declaration of ‘Reemdan Border point’ as an international border crossing point under TIR and opening of remaining two border sustenance markets was also agreed upon.

As members of Belt and Road Initiative and Economic Cooperation Organisation, two countries expressed firm resolve to enhance cooperation in connectivity, infrastructure development and energy sectors and agreed to expand linkages between Gwadar and Chahbahar ports.

They called for active cooperation among regional countries within framework of ECO. Pakistan and Iran reaffirmed their commitment to development of Afghanistan as peaceful, united, sovereign and independent state, free from threats of terrorism and drug trafficking.

Published in The Daily National Courier, April, 25 2024

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