Pakistan, Iran agree to set USD 8 billion trade goal, nearly 2 years after cross-border conflict

Islamabad [Pakistan], August 3 : Nearly two years since the cross-border conflict, Pakistan and Iran on Sunday agreed to set their annual bilateral trade at USD 8 billion, aimed at the advancement of economic cooperation and regional connectivity, The Express Tribune reported.

According to The Express Tribune, the decision was made during a meeting between Pakistan's Federal Commerce Minister Jam Kamal Khan and Iran's Minister of Industry, Mine and Trade, Mohammad Atabak, held in Islamabad, where both nations expressed a commitment to revitalising their economic relationship and accelerating cooperation.

According to CNN, the cross-border conflict began in January 2023, when Iran launched strikes in Pakistan's Balochistan province, resulting in the deaths of two children. Iran stated that the operation was aimed solely at "Iranian terrorists located on Pakistani soil" and insisted that no Pakistani citizens were harmed.

However, the tensions escalated between Iran and Pakistan following reciprocal military actions from Islamabad, a day after Iran's strike. Pakistan responded by targeting separatist groups in Iran's Sistan and Baluchistan province, CNN reported.

According to The Express Tribune, Kamal emphasised the need to turn geographic proximity into economic strength and urged the rapid expansion of trade relations while agreeing to strengthen cross-border collaboration and to speed up preparations for the upcoming session of the Pakistan-Iran Joint Economic Commission.

Discussions also covered cooperation in key sectors, including agriculture, energy, livestock, logistics, and IT services, The Express Tribune reported.

This came during Iranian President Masoud Pezeshkian's two-day official visit to Pakistan that began on Saturday, marking his first trip to Islamabad since taking office, the Dawn reported.

During Pezeshkian's visit, Pakistani Prime Minister Shehbaz Sharif today reiterated Pakistan's firm stand that Iran has the right to develop nuclear technology for peaceful purposes, in line with the UN Charter, The Express Tribune reported.

Shehbaz also strongly condemned what he described as "recent unprovoked Israeli aggression against Iran," calling the attack "completely unwarranted" and stating that it had been condemned by both the Pakistani government and its citizens, as reported by the Express Tribune.

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