TEHRAN- The Minister of Commerce of Pakistan stated that an agreement and understanding had been reached with Iran in all desired economic fields and announced that the 23rd session of the Joint Economic Committee of the two countries would be held as soon as possible to follow up on the agreements.

Jam Kamal Khan, on Tuesday (September 16) at the conclusion of the two countries’ Joint Economic Committee meeting, thanked Iran for its hospitality towards the Pakistani delegation hosting this joint meeting and added: "We had numerous meetings over these two days with Iranian officials and authorities, including the Minister of Transport and Urban Development, the Minister of Industry, Mining and Trade, the Minister of Agriculture, and the First Vice President of Iran."

He said: "In addition to the bilateral talks and understandings, on the sidelines of this meeting, 50 Pakistani companies were also with us and held business meetings with their Iranian counterparts."

The Pakistani Minister of Commerce noted: "These advancements were achieved solely through the attention of the two countries' leaders; namely, Shehbaz Sharif, the Prime Minister of Pakistan, and Masoud Pezeshkian, the President of Iran."

Referring to the 22nd session of the Joint Economic Committee of the two countries, he stated: "Fortunately, we reached an agreement on all matters under consideration."

Kamal Khan explained: "The related protocols of this joint meeting encompass a wide range of services and cooperation between the two countries in various fields, and our goal in reaching this agreement is for the people of both countries to achieve mutual benefits in the coming months."

He recalled: "Iran and Pakistan have shared borders for centuries; we share various cultural, linguistic, religious, lifestyle commonalities, etc., and these commonalities have led the people of the two countries to also want to achieve tangible economic results."

The Pakistani Minister of Commerce emphasized: "The goal of both countries is to hold the 23rd session of the Joint Economic Committee as soon as possible and to follow up on the agreements made during the 22nd session."

The 22nd meeting of the Iran-Pakistan Joint Economic Committee commenced in Tehran on September 15, co-chaired by Iran’s Minister of Transport and Urban Development Farzaneh Sadegh, and Pakistan’s Federal Minister for Commerce Jam Kamal Khan.

In her opening remarks, Minister Sadegh hailed the meeting as a significant step towards enhancing bilateral economic and commercial ties.

She announced that a roadmap for achieving a $10 billion bilateral trade target would be finalized and signed by the relevant ministers within the next three months.

“This goal reflects the strong political will of both nations to deepen cooperation,” Sadegh stated. She emphasized that reaching this target would require strengthening banking relations and establishing secure, mutually agreed financial channels.

Highlighting the longstanding fraternal relations between the two nations, Sadegh expressed hope that the meeting would pave the way for expanded collaboration in economic, trade, banking, transit, energy, agricultural, and cultural fields.

She also thanked Pakistan for its supportive stance towards Iran at bilateral, regional, and international levels.

A major focus of the discussions was on improving transport infrastructure.

Minister Sadegh stressed the necessity of developing border facilities, increasing parking capacity at the Mirjaveh and Taftan border crossings, and constructing the Zahedan-Taftan-Quetta railway line.

Other vital projects include launching shipping routes between the ports of Karachi (including Port Qasim) and Gwadar in Pakistan, and Chabahar and Bandar Abbas in Iran, she said.

The recent launching of direct Tehran-Islamabad flights was noted as a positive step, with both sides agreeing on the need to increase flight destinations and enhance aviation cooperation, the minister added.

In a significant regional development, Sadegh revealed plans to launch a monthly ECO train on the Islamabad-Tehran-Istanbul route, calling it a strategic regional rail project.

Addressing the same meeting, Pakistani Commerce Minister Jam Kamal Khan expressed his country’s readiness to expand cooperation with Iran in the economic, technical, and regional fields.

Echoing the sentiment of cooperation, the minister emphasized the deep historical, cultural, and religious bonds between the two countries.

“The people and government of Pakistan stand with the people of Iran and seek a shared future based on prosperity, security, and development,” he declared.

Minister Khan acknowledged that current trade volumes still fall short of the true potential.

He identified specialized committees, joint chambers of commerce, and the joint committee as key to boosting exchanges.

He proposed collaboration in new areas such as border markets, technical and engineering services, livestock, and agriculture, offering to share Pakistan’s expertise in irrigation and modern agricultural technology.

Referring to the extensive capacities of the two countries in the energy sector, Pakistan’s minister of commerce stated that solar and wind energy could form the basis of strong partnerships for sustainable development in both countries and the region.

He also identified transportation as one of the key areas of cooperation, adding that given the existing capacities in road, rail, and sea transport, developing a transportation network could turn Iran into a gateway to South Asia and West Asia, thereby strengthening the regional roles of both countries.

Jam Kamal Khan further highlighted the importance of developing new technologies, innovation, and the digital economy, stating that the establishment of innovation centers would not only contribute to employment and economic growth but also enhance the international competitiveness of both countries.

He also prioritized cooperation in information technology, tourism, sports, and cultural and social affairs, noting that population growth and climate challenges have exposed both countries to common threats. Therefore, cooperation in water resource management, health resilience, medicine, and healthcare could be highly impactful.

In conclusion, Pakistan’s minister of commerce pointed to the shared perspectives of the two countries on global relations, stating that Iran and Pakistan share common goals in promoting peace, prosperity, and security in the region and the world.

He expressed hope that this meeting, through tangible and constructive decisions, would strengthen strategic cooperation and achieve new heights in bilateral relations.

An Iran-Pakistan business forum was held in Tehran on the sidelines of the first day of the two countries’ joint economic committee meeting on September 15.

The event was participated by Iranian Transport and Urban Development Minister Farzaneh Sadegh and Pakistan’s Federal Minister for Commerce Jam Kamal Khan. 

Addressing the forum, Pakistan's Minister of Commerce stated that the level of trade and economic cooperation between Tehran and Islamabad is not satisfactory, and accordingly, Pakistan seeks to develop relations with Iran.

Jam Kamal Khan added: "The feelings of brotherhood and sincere friendship, as well as cultural and literary commonalities over the past centuries between the two countries, help us have a good economic future."

He said: "This forum reflects the shared will, decision, and joint effort of the two countries to enhance the level of cooperation."

Kamal Khan continued: "The connection and cooperation between the two countries dates back centuries, and mutual respect, respect for each other's values and cultures, form the basis for developing economic ties."

Stating that Pakistan seeks to develop relations with Iran, he emphasized: "We are trying to activate trade mechanisms between the two countries, especially at the borders, and we have an agreement to establish trade markets and industrial towns on the borders."

Pakistan's Minister of Commerce noted: "Although the country had very good growth in 2024, it faced numerous challenges in the field of industry and trade, and we must be able to overcome these challenges and problems."

He clarified: "Today, we are pursuing the revision of the framework of the trade agreement between the two countries at the ministerial level."

Kamal Khan noted: "Although Pakistan is growing and progressing in industry, exports, production, IT, finance, etc., achieving our goals requires activating the development of ties with Iran, and we must look at all aspects to enhance our trade level."

Pakistan's Minister of Commerce emphasized: "The country seeks to make its trade balance positive, and accordingly, we are trying to provide a suitable platform and path for this cooperation."

He clarified: "The level of trade and economic cooperation between Tehran and Islamabad is not satisfactory, and for this reason, we are seeking to resolve issues and problems in the Joint Economic Committee of the two countries to witness better cooperation in banking, transportation, communications, agriculture, joint markets, free trade zones, etc."

Kamal Khan expressed hope that experts from both sides could prepare this protocol as the seventeenth documented protocol between the parties to witness a new level of trade between the two countries.

Stating that many efforts were made in this regard in past years, he emphasized: "We assure you that in the coming years, we will address all issues within this framework."

This Pakistani official, referring to the history of friendship between the two countries which will be an effective help in improving their economic conditions, stated: "Iran and Pakistan have skilled and elite human resources, as well as trade corridors, rich culture and history, and have people who have lived on both sides of the borders in peace and friendship, and we hope that with the determination of both countries and by utilizing existing opportunities, we can turn these efforts into tangible results."

Referring to the agricultural products exhibition to be held in Pakistan in November, he invited Iranian businessmen to attend this exhibition and visit the country's production and industrial capabilities.

Kamal Khan expressed hope that the two countries would surpass the $3 billion trade level and increase their trade volume to at least $10 billion per year, emphasizing: "Achieving this depends on the efforts of merchants, traders, and the private sector."

Addressing the same forum, the head of the Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) stated that Iran's share of the Pakistani market is only three billion dollars per year, which is very insignificant. This gap clearly indicates the potential for expanding economic cooperation between the two countries.

Samad Hassanzadeh added that the relations between Iran and Pakistan, given the significant capacities of both nations, could serve as a model for regional cooperation.

Hassanzadeh noted that Pakistan, with a population of over 240 million and a growing economy, is one of the major strategic markets in the region.

He mentioned that the country's annual import volume is 70 billion dollars, of which Iran's share is only three billion dollars, which is very insignificant. This gap clearly highlights the potential for expanding economic cooperation between the two countries.

The head of the Iran Chamber emphasized that in this regard, the Iran Chamber has planned a series of targeted measures, including organizing trade delegations, holding joint exhibitions, and signing preferential trade agreements, which could help reduce tariff barriers and create stability in economic relations.

Referring to diplomatic and economic efforts to enhance the level of economic relations between the two countries, he stated that revising the base prices of certain goods, including construction materials, and reducing customs tariffs for products such as powdered milk, detergent powder, steel sheets, etc., demonstrate the effectiveness of the economic diplomacy between the two countries. He added that it is now essential to continue this upward trend with serious determination and will.

Hassanzadeh continued that establishing joint banking channels, developing joint investments in tourism, production, and trade, and facilitating access to information for economic activists are among the measures that can bring the level of economic relations between the two countries closer to their true potential.

He emphasized that Iran has significant capacities in technical and engineering services, refinery construction, food industries, pharmaceuticals, medical equipment, academia, the development of science and technology parks, knowledge-based initiatives, and the establishment of industrial towns and free zones. The Iran Chamber, as the representative of the private sector, is ready to facilitate the realization of these goals for both countries, paving the way for a bright future for the economies of Iran and Pakistan.

Meanwhile, Iran’s Trade Promotion Organization (TPO) Head Mohammad Ali Dehghan Dehnavi met and held talks with a group of Pakistani businessmen on the sidelines of the Iran-Pakistan business forum.

During this meeting, Dehghan Dehnavi, who is also the deputy industry, mining and trade minister, pointed to Iran's trade capacities and advantages and informed about measures being taken to facilitate trade with neighbors, especially Pakistan.

He referred to the topic of a free trade agreement between Iran and Pakistan, stating: "This matter is being pursued seriously at the Trade Promotion Organization of Iran, and we are striving for this process to yield desirable results within a specific timeframe."

Furthermore, Dehghan Dehnavi expressed hope that with the two countries' will to develop and strengthen trade and economic relations, achieving the predicted trade value between Iran and Pakistan is not far-fetched and reaching this figure will be achievable.

It is worth mentioning that during this meeting, Pakistani businessmen, while emphasizing the development of Iran-Pakistan trade cooperation, pointed out the challenges and problems facing trade between the two countries. Ultimately, it was decided that these challenges would be reviewed with the participation of relevant Pakistani officials.

Also, on the sidelines of Iran-Pakistan Joint Economic Committee meeting, the chairmen of Iranian and Pakistani railways met and discussed the ways to boost railway cooperation between the two countries.

In the meeting, the head of Iranian Railways announced Iran's readiness to increase the cargo transportation capacity between the two countries.

Jabar-Ali Zakari, during the meeting with the chairman of Pakistan Railways, who had come to Tehran to participate in the 22nd meeting of the Iran-Pakistan Joint Economic Committee, emphasized the necessity of strengthening rail diplomacy, increasing rail-based transit, and developing rail transportation between the two countries.

He announced the readiness of Iranian Railways to increase the cargo transport capacity between the two nations.

The Chairman of Pakistan Railways, in this meeting, expressed his satisfaction with the strategy of Iran Railways to increase rail transit in the region, stating: "The current level of rail transportation between the two countries is lower than the actual capacity, and Pakistan is ready to resolve the existing obstacles by improving infrastructure and supplying wagons."

Mazhar Ali Shah, referring to the commencement of operations to rebuild the Taftan–Quetta railway line, said: "This project, aimed at increasing the speed and capacity of trains, will become operational by early 2028."

MA