Iran to expand trade with Pakistan after ceasefire

TEHRAN: Following the reported ceasefire agreement with the United States, Iran has decided to significantly expand trade with Pakistan, marking a new phase in bilateral economic relations.

According to reports, Iran’s second major trade delegation in two months visited the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), where agreements were signed for investment in liquefied petroleum gas (LPG) storage facilities in Pakistan.

FPCCI leader Muhammad Ali Haider said the agreements were signed during a meeting at the chamber, adding that the Iranian delegation included mining investors, rice importers, and other business representatives.

He said both sides have set an ambitious target of increasing Pakistan-Iran trade to $10 billion following the stabilization of the regional situation.

Focus on Energy, Trade Expansion and Connectivity

In a separate development, discussions were held in Islamabad between the Iranian ambassador and Pakistan’s Board of Investment minister.

Federal Minister Qaiser Ahmed Sheikh assured cooperation with relevant ministries to resolve outstanding issues.

According to an official statement, Iran has also offered Pakistan access to Central Asian markets through its territory, while both countries reaffirmed their commitment to expanding bilateral trade to the agreed $10 billion target.

Both sides also agreed on measures to enhance border trade, including proposals to increase the daily number of cross-border trucks to 2,000.

The statement added that the leadership of Prime Minister Shehbaz Sharif and Field Marshal Asim Munir was appreciated during the meetings, highlighting improved political and economic coordination between the two countries.