TEHRAN- The ambassador of Pakistan to Tehran stated that a trade delegation from Iran participated in the Karachi International Food and Agricultural Exhibition, and during the event, the two countries signed several memoranda of understanding, including a $4 million trade agreement.

Muhammad Mudassir Tipu announced in a message that a 12-member trade delegation from Iran participated in the third International Food and Agriculture Exhibition 2025, the largest trade exhibition of food products in Karachi, Pakistan.

He added: “The Iranian delegation attended extensive meetings with Pakistani companies in key sectors, including citrus fruits, agricultural products such as rice and meat.”

During this exhibition, three memoranda of understanding, including trade commitments worth over $4 million, were signed.

Several other memoranda of understanding in various sectors are also being finalized.

The Pakistani ambassador emphasized: “The presence of Iranian businesspeople at the Karachi Agricultural Exhibition signifies the deepening engagement of Iran's private sector with Pakistan.”

He urged the business communities of both countries to continue deepening their interaction with each other to achieve mutual benefits.

The third International Agriculture Exhibition was held during November 25-27 in Karachi. Over 370 Pakistani companies from more than 20 sub-sectors of the agriculture-food industry showcased their best products and capabilities at the exhibition. These companies operate in the fields of agricultural technology, beverages, confectionery, cereals, dairy products, dried fruits, fresh and frozen products, honey, corn, meat, oilseeds, poultry, processed foods, rice, salt, seafood, sesame seeds, spices, and tobacco.

Representatives from various Asian, African, and Western countries also participated in this three-day exhibition event, holding negotiations with their Pakistani counterparts and domestic producers.

Last week, the Commercial and Investment Attaché of Pakistan in Iran, during a meeting with the Vice President for International Affairs and Trade Development of the Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA), and the Commercial Attaché of Iran in Pakistan, exchanged views on new cooperation avenues and emphasized expediting the implementation of the barter mechanism and removing trade barriers between the two countries.

In this meeting, the Commercial Attaché of Iran in Pakistan provided a report on the latest developments in trade exchanges and the process of advancing the barter mechanism between the two countries.

At the beginning of the meeting, Hossamuddin Hallaj, Vice President for International Affairs and Trade Development of the Tehran Chamber, referred to the history of cooperation between the Chambers of Tehran, Karachi, and Lahore, as well as the exchange of delegations between the private sectors of the two countries over the past years.

He stated: "The trade value between the two countries has reached $3.3 billion for the first time in history, which is promising. To achieve the target of $10 billion in trade between Iran and Pakistan, the Tehran Chamber can arrange various programs, including the exchange of business figures between the two countries, participation in each other's events, and holding business matchmaking sessions for Iranian and Pakistani merchants to foster familiarity, data exchange, and exploration of cooperation areas."

He also spoke about the possibility of forming consortiums comprising Iranian and Pakistani companies to implement projects and conduct barter between the two countries, adding: "Iran and Pakistan have placed the compilation of a list of goods suitable for barter between the two countries on their agenda, and expediting the finalization of this list can accelerate the increase of trade exchanges between the two countries."

Furthermore, Hallaj, referring to the upcoming "Iran Mod" exhibition in December this year, requested the Commercial and Investment Attaché of the Pakistani Embassy in Iran to arrange for the dispatch of delegations comprising Pakistani apparel and textile

During the meeting, Amina Javaid, Commercial and Investment Attaché of the Pakistani Embassy in Iran, emphasized the removal of trade restrictions between the two countries, stating: "The Iranian side has not yet announced the list of goods suitable for barter between the two countries, and it is expected that this list will be finalized as soon as possible so that business actors can be informed of the facilities intended to govern trade relations between the two countries."

The Commercial and Investment Attaché of the Pakistani Embassy in Iran also pointed out that Iran's protective policies regarding domestic production make the process of forming preferential and free trade between the two countries difficult.

She continued by mentioning that she had proposed the formation of a joint committee in the field of transportation and expressed the readiness of the Pakistani side to form a corresponding consortium in Karachi, adding: "The purpose of forming these consortiums is that at least two selected and trustworthy consortiums begin work to implement barter before a public call is issued."

The Commercial and Investment Attaché of the Pakistani Embassy in Iran also referred to the regular meetings of Pakistani customs and executive bodies for the operationalization of the barter mechanism and expressed hope that with the finalization of the barter mechanism by Iran, the flow of trade exchanges between the two countries would accelerate, and the remaining issues would be resolved through joint committees.

She then pointed to some Iranian trade restrictions on the import of certain goods, including ready-made garments, and while emphasizing the removal of these restrictions, stated that joint investment in the apparel sector is also possible.

During the meeting, Morad Ne'mati Zargaran, Commercial Attaché of Iran in Pakistan, explained the latest status of the formation of the barter mechanism between the two countries, noting that given the negotiations, the Pakistani side has finalized the cooperation issue.

He stated, "The cooperation structure should be in the form of a consortium, and individual or bilateral action is not considered by the counterpart," adding: "Forming a consortium facilitates the implementation process and will prevent potential problems along the way. Furthermore, consortium members are obliged to accept commitments jointly   and severally. This increases the counterpart's confidence and guarantees the proper fulfillment of commitments. In fact, a cohesive team is formed that will have the ability to manage and fully advance the project."

Ne'mati continued: "The proposal is to form a domestic consortium as a pilot, and on the other side, with the coordination carried out, a similar consortium will be formed so that these two structures connect. The presence of reputable and well-known figures in this mechanism provides the grounds for gaining the trust of the foreign party."

On November 23, Pakistan’s ambassador to Iran said Tehran and Islamabad are accelerating implementation of their planned free trade agreement, adding that a barter mechanism between the two neighbors will become operational soon.

Mohammad Mudassir Tipu said that recent bilateral discussions showed encouraging progress toward unlocking the commercial potential of both countries. He said the two sides are expediting work on the Pakistan–Iran free trade agreement and finalizing arrangements for a barter system aimed at easing payments and boosting cross-border commerce.

He said a twelve-member Iranian delegation will travel to Pakistan this week to attend the International Exhibition on Agricultural and Food Industries in Karachi, with Pakistan’s commercial and investment counsellor accompanying the group.

Tipu said Iranian and Pakistani technical teams are working closely to streamline transit trade procedures for exporters.

He added that Iran welcomes the participation of Pakistani chamber officials in the thirteenth Iran Mode exhibition, scheduled for 2–5 January 2026 in Tehran, and encouraged Pakistani companies to join the event.

He said both sides are also improving border facilities to support higher volumes of bilateral trade.

Pakistan’s commerce minister earlier said the draft free trade agreement is undergoing internal review and will soon be submitted to the cabinet for approval, calling for increased exchanges of high-level delegations to advance mutual economic interests.

During a visit to Pakistan, in early November, Mohammad Bagher Qalibaf, the speaker of the Iranian parliament (Majlis), and Mohammad-Ali Dehghan Dehnavi, the Iranian deputy minister of industry, mining and trade and the head of Iran’s Trade Promotion Organization (TPO), met with some traders and businessmen and emphasized issues such as the development of commercial cooperation and accelerating the free trade process between the two countries.

Iran-Pakistan business forum was held in Karachi, with the presence of Qalibaf and Dehghan Dehnavi, along with the extensive participation of Pakistani traders and businessmen.

At this meeting, topics such as the development of commercial cooperation and accelerating free trade with Pakistan were emphasized.

Also, during this trip, Dehghan Dehnavi met and held talks with Faiz Ahmed, the Chairman of the Trade Development Authority of Pakistan (TDAP).

Topics discussed in this meeting included free trade, removing obstacles and problems in bilateral trade relations, reviewing borders and border markets, and facilitating the customs processes of the two countries.

On November 1, Iran's ambassador in Islamabad and Pakistan's Commerce Minister met and discussed ways to strengthen bilateral trade and economic cooperation.

Reza Amiri Moghaddam, the Ambassador of the Islamic Republic of Iran in Islamabad, met and held talks with Jam Kamal Khan, Pakistan's Commerce Minister.

As reported by Express Tribune, the meeting discussed and deliberated on current initiatives, trade agreements, and upcoming opportunities aimed at enhancing economic relations between the two neighboring countries.

Jam Kamal invited Iranian companies and government organizations to participate in the FoodAg exhibition scheduled to be held from November 25 to 27, 2025, at the Karachi Expo Centre.

The Pakistani Commerce Minister, in his remarks, also emphasized that such platforms provide valuable opportunities for Iranian and Pakistani businesses to explore trade, projects, and joint investments in the agriculture and food sectors.

He further suggested arranging high-level visits, including visits by the Chief Minister of Pakistan's Baluchistan province and the Governor of Zahedan, to facilitate cross-border trade and improve the livelihoods of people living in border areas. He also proposed that Pakistani ministers from the maritime, railways, and communications sectors be invited to Iran to explore areas of mutual cooperation.

The Iranian ambassador, during the meeting, recalled previous agreements between the two countries regarding the import of rice, meat, corn, and animal feed, highlighted the progress in bilateral trade, and noted that Iran has successfully completed rice imports and is ready to purchase animal feed and corn.

He also stated that flights between Quetta and Zahedan have resumed, enhancing connectivity for people and businesses between the two sides.

Jam Kamal emphasized that over the past year, positive interactions between Pakistan and Iran have been fruitful in building stronger economic and trade relations.

He informed the Iranian ambassador during the meeting that the text of the Pakistan-Iran Free Trade Agreement (FTA), signed in Islamabad, is undergoing internal review and there are plans for its formal presentation and approval in the near future.

Both sides emphasized the shared vision of their leadership to achieve annual bilateral trade worth $10 billion by 2028 and expressed satisfaction with the successful holding of the 22nd session of the Pakistan-Iran Joint Economic Commission in Tehran on September 15-16, 2025.

During a press conference at the Pakistani embassy in Tehran, on October 27, Pakistan’s Ambassador to Iran Muhammad Mudassir Tipu said the two countries are poised for even deeper ties as a recently signed barter agreement begins implementation and expands to include various sectors.

Ambassador Tipu's Q&A session followed an event commemorating 'Kashmir Black Day,' an annual observance by Kashmiris and Pakistanis worldwide. This day, October 27, 1950, marks when Indian troops landed in Srinagar to gain control of the state of Jammu and Kashmir, reportedly killing scores of people. India rejects the 'Black Day' term.

Answering a question from the Tehran Times, the envoy stated that Iran and Pakistan have yet to finalize the specific products that will be exchanged under the new barter agreement, which he noted was signed at Tehran's request. "This deal is very important and significant," he said. "Both countries will particularly benefit if the private sector is involved."

Iran and Pakistan have enjoyed close and cordial ties since Pakistan's independence in 1947. In recent years, economic cooperation has become a central focus in discussions between the two countries' dignitaries, with both sides recognizing immense untapped potential between the neighboring nations. Significant steps taken recently include the inauguration of border markets and ongoing negotiations for a free trade agreement, which Ambassador Tipu stated could be signed soon.

On October 20, the ambassador announced that Pakistan’s government has issued a new executive order aimed at promoting barter trade with Iran after months of consultation and review to address the concerns of both countries’ business communities.

In a post on X, Ambassador Tipu said: “I am pleased to announce that Pakistan has issued a new executive order (SRO) to promote barter trade with the Islamic Republic of Iran.”

He explained that following an extensive and inclusive review process, many of the issues raised by Iranian and Pakistani traders have been addressed in the new regulation. The envoy expressed hope that the measure would significantly enhance the volume and diversity of trade between the two neighbors.

“I invite industrialists and the business communities of both countries to fully benefit from this order and contribute to the expansion of bilateral trade,” he added, urging chambers of commerce and trade bodies in both nations to circulate the regulation among their members to help maximize its benefits.

MA