Daily Times

Prime Minister Shehbaz Sharif on Thursday said that Pakistan and Iran had decided to finalise the Free Trade Agreement soon to exploit the immense potential in trade and investment.

The bilateral ties and cooperation were discussed in a meeting between Prime Minister Shehbaz Sharif and Iranian President Ebrahim Raisi after the two leaders inaugurated the Mand-Pishin border market. Following the “very productive and positive” meeting, the prime minister told a gathering of local elders that the two sides had decided to move forward in the areas of trade, investment, information technology, agriculture and other sectors.

The two leaderships also decided to exploit the potential for cooperation in the power transmission.

He told the gathering that on his suggestion, the Iranian president also assured to move forward for enhancing cooperation in the solar energy sector.

The prime minister said that during the meeting, he also put forward the suggestions regarding the China Pakistan Economic Corridor (CPEC) and that the two sided would take measures for implementation of the decisions taken in the meeting. Regarding the inauguration of Mand-Pishin border market, the prime minister said the facility would enhance trade activity in the surrounding areas and would get an uplift as trade centers would be constructed there. Prime Minister Shehbaz also invited the Iranian president to visit Pakistan which he accepted.

Coming to the project of 100 megawatt Gabd-Bolan transmission line, the prime minister said the project faced immense delay in the past but the incumbent government ensured its completion in the record time. Iranian President Raisi also took keen interest in the project, he added. He said the matter related to the power tariff has also been settled amicably with Iranian government, he added.

“This is a great day for Pakistan-Iran friendship and will prove a milestone for development of the two countries,” the prime minister remarked.

In a step aimed at boosting bilateral trade, Prime Minister Shehbaz Sharif and Iran’s President Seyed Ebrahim Raisi on Thursday jointly inaugurated the Mand-Pishin border sustenance market.

The Mand-Pishin border sustenance marketplace is expected to provide a thriving platform for increasing cross-border trade, fostering economic growth, and opening up new avenues of opportunity for local businesses. The two leaders also planted a sapling on the premises of the border market as a gesture to stride forward in the bilateral relationship between the two countries.

The bilateral ties and cooperation were discussed in a meeting between Prime Minister Shehbaz Sharif and Iranian President Ebrahim Raisi after the two leaders inaugurated the Mand-Pishin border market. PM Shehbaz along with the Iranian president also inaugurated 100MW Polan-Gabd electricity transmission line project from Iran to Gwadar at Mand-Pishin crossing point of Pakistan-Iran border. The prime minister said the project faced immense delay in the past but the incumbent government ensured its completion in the record time. Iranian President Raisi also took keen interest in the project, he added.

He said the matter related to the power tariff has also been settled amicably with Iranian government, he added. “This is a great day for Pakistan-Iran friendship and will prove a milestone for development of the two countries,” the prime minister remarked. In an exclusive interview with Islamic Republic News Agency (IRNA), PM Shehbaz stressed the importance of enhanced cooperation with the Islamic Republic of Iran, terming energy projects and border markets “emblematic of the vitality of Pakistan-Iran friendship”. Muhammad Shehbaz Sharif made the remarks in a written interview sent to the Bureau office of the Islamic Republic News Agency (IRNA) in Islamabad. The PM was of the view that the Mand-Pishin border marketplace and the Polan-Gabd electricity project are “tangible manifestations” of this joint resolution.

He added the border markets including Mand-Pishin will not only ameliorate the socioeconomic conditions of our border regions but also foster new opportunities for local businesses. “They would also serve as a stepping stone for greater cooperation between our two countries, especially in the economic domain,” the premier maintained. Shedding light on trade, he noted there is tremendous scope and mutual desire for the actualisation of our trade potential. “Both Pakistan and Iran are deeply committed to achieving an annual trade volume of $5 billion. In this regard, the operationalisation of the barter trade mechanism is a significant step,” he said.