Pakistan and Iran aim to elevate their bilateral trade from $3bn to $10bn through newly signed agreements, including collaborations in the energy sector. Iran's President Masoud Pezeshkian and Pakistan's Prime Minister Shehbaz Sharif emphasized their commitment to counter terrorism for regional stability. Sharif also affirmed support for Iran's nuclear rights under international law. Observers note that informal trade may surpass formal agreements, indicating a robust economic relationship between the two nations despite existing regional tensions and conflicts.
Pakistan and Iran have signed agreements pledging to raise bilateral trade to $10bn and committing to work more closely to eliminate the menace of terrorism in favour of peace and prosperity in the region.
We have set a target of $10bn in trade and hope to achieve it as soon as possible, Pakistan's Prime Minister Shehbaz Sharif said.
My deep belief is that we can easily, in a short time, increase the volume of our trade relations from the current $3bn to the projected goal of $10bn.
Analyst Ammar Habib Khan of the Institute of Business Administration noted that the informal trade between Iran and Pakistan is likely to increase more than the formal trade target.
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