Pakistan and Iran push for FTA to unlock trade potential

ISLAMABAD: Pakistan and Iran have agreed to fast-track negotiations on the proposed Free Trade Agreement as a key step toward reaching US$10 billion in annual bilateral trade, officials said after the 10th Joint Trade Committee meeting in Islamabad.

Federal Minister for Commerce Jam Kamal Khan and Iran’s Minister of Industry, Mines and Trade Dr. Mohammad Atabak co-chaired the session and signed the Agreed Minutes.

Both sides welcomed progress on core FTA elements, including Rules of Origin, tariff-reduction modalities, and product lists. The meeting also prioritized expanding barter trade, enhancing private-sector participation, and boosting industrial cooperation and investment.

To support trade growth, Pakistan and Iran committed to improving customs coordination, border infrastructure, transport and logistics, with special attention to the movement of perishable goods. The two countries also agreed to activate joint border markets and strengthen business-to-business linkages.

The ministers stressed the need for sustained coordination and timely implementation ahead of the next JTC session.