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Pakistan, Iran agree to accelerate work on Free Trade Agreement

GWADAR: Pakistan and Iran have agreed to accelerate work on Free Trade Agreement (FTA) between the two countries and finalize it at the earliest.

This was stated by Prime Minister Muhammad Shehbaz Sharif while speaking to the tribal elders and notables of the city in Gwadar today.

The Prime Minister said thursday (18th May, 2023) he held a very constructive, positive and fruitful meeting with Iranian President Seyed Ebrahim Raisi, covering all issues of bilateral interests including trade and economy.

He said both sides agreed to enhance bilateral cooperation in trade, investment, Information Technology, Agriculture, power, energy and other sectors.

The Prime Minister said: “We want to increase trade activities with the government of Iran to facilitate people of both countries”.

“We inaugurated Mand-Pishin Border Sustenance Marketplace and Polan-Gabd Electricity Transmission Line at Mand-Pishin border crossing point”.

He said the border markets are envisaged along the Pakistan-Iran border to facilitate the people on both sides of the border with enhanced cross-border trade, fostering economic growth and opening up of new avenues of opportunity for local businesses.

The Prime Minister said the 100 MW electricity transmission line via Polan-Gabd will help offset the energy needs of households and businesses in the Balochistan province.

The Prime Minister said the projects will not only enhance bilateral trade, but also usher in a new era of development and prosperity in the surrounding areas.

He said the two sides also discussed prospects of undertaking solar energy projects in Pakistan on which the Iranian President assured his complete support in materializing these projects.

The Prime Minister said he also discussed the projects under China-Pakistan Economic Corridor with the Iranian leadership and presented suggestions as well.

He thanked the Iranian President for taking keen interest in the completion of the transmission line project for Gwadar.

The Prime Minister also extended invitation to Iranian President Seyed Ebrahim Raisi to visit Pakistan, which he accepted.