Pakistan, Iran agree to enhance economic opportunities

Islamabad: Pakistan and Iran on Tuesday agreed to enhance trade and investment opportunities between two countries.

The agreement was reached during a meeting between Minister for Economic Affairs Sardar Ayaz Sadiq and Head of Organization for Investment, Economic and Technical Assistance of Iran Ali Fekri in Islamabad Tuesday.

They discussed on bilateral economic cooperation and strengthen ties between Pakistan and Iran.

Speaking on the occasion, Sardar Ayaz Sadiq said Pakistan values its longstanding and amicable relations with Iran and aims to strengthen bilateral ties fostering trade and economic prospects that will contribute to regional stability and prosperity.

He highlighted that the prompt execution of Agreements reached during the 21st Session of Pak-Iran Joint Economic Commission will bolster economic cooperation and facilitate enhanced people-to people connectivity with progress in all modes of transportation.

Ali Fekri expressed interest in collaborating with Pakistan and shared their plans for investment in various sectors including energy projects and infrastructure development.

He acknowledged the favorable investment climate in Pakistan and the government's commitment to providing a business-friendly environment.

He also expressed keen interest in joining the projects of the Islamic Development Bank in Pakistan. This collaboration aims to facilitate the introduction of Iranian companies in Pakistan and foster stronger bilateral relations between the two nations.

The discussions in the meeting primarily focused on exploring avenues for increased trade, investment, and technical cooperation in various sectors, including energy, agriculture, infrastructure development, manufacturing, and technology.

Specific emphasis was laid on the Turkmenistan, Afghanistan, Pakistan, India gas pipeline project and the Pakistan-Iran Gas initiatives and to accelerate their implementation and ensure successful completion.

Both sides acknowledged the significance of enhancing bilateral trade volume and pledged to facilitate the business communities of both countries in tapping the immense opportunities available for economic cooperation.