Pakistan, Iran eye $5bn trade under five-year plan

ISLAMABAD: Pakistan and Iran on Thursday announced that they would keep their common borders “a border of peace and friendship”, as both sides have mutual interest in a peaceful stable neighborhood, with Iran underscoring that the Iran-Pakistan gas pipeline should see an early completion as it was in the national interest of both countries.

Economic cooperation was high on the agenda of discussions which saw both sides taking steps for durable economic cooperation and setting a target of $5 billion for bilateral trade through a five-year trade cooperation plan to enhance cooperation.

These assurances were made by the visiting Iranian Foreign Minister Hossein Amir-Abdollahian and his Pakistani counterpart Bilawal Bhutto Zardari at a joint press conference at the Foreign Office after delegation-level talks.

These wide-ranging discussions were focused upon all aspects of bilateral relations and the emerging regional situation.

The meeting also discussed the grave human rights situation in the Indian Illegally Occupied Jammu and Kashmir.

Bilawal thanked the Iranian leadership for its firm and consistent support to the legitimate cause of Kashmiri people.

Minister Bilawal said that the joint inauguration of Mand-Pishin border marketplace and Gabd-Polan electricity project “was an affirmation of our collective commitment to find collaborative solutions for the betterment of our two peoples”.

“We consider this as a first step towards strengthening our multidimensional cooperation especially in the economic domain. Today, countless schools, hospitals and households in Gwadar are run on electricity being provided by Iran,” he said.

Proposals for the expansion of cooperation in trade and economy, energy, and culture and arts are underway.

He announced long-term and durable economic partnership between the two countries in the months and years ahead.

These include:

(i) The Five-Year Trade Cooperation Plan between Pakistan and Iran (2023-28), which inter alia, sets a bilateral trade target of US$ 5 billion; prioritises removing impediments on bilateral trade, finalisation of the FTA, and establishment of institutional linkages between our respective private sectors;

(ii) Protocol on Bilateral Economic Consultations, encompassing the rich and in-depth sectoral discussions held between our sides;

(iii) Protocol on the 3rd meeting of the Joint Investment Committee (JIC) between Pakistan and Iran, on issue of bilateral investments.

(vi) Humanitarian issues concerning prisoners and fishermen in each other’s jails were also addressed between the two countries.

“We have decided to repatriate all ‘sentenced’ persons in respective jails, as per provisions of existing agreements between the two sides. We have also decided to release all fishermen in custody in Pakistan and Iran, to waive-off any fines imposed on them and to release their vessels. The two sides will exchange list of prisoners, to put into practice this understanding, expeditiously,” said Bilawal.

Regarding the situation in Afghanistan, Pakistan and Iran agreed to continue their active engagement with a view to advancing peace and stability in Afghanistan, and to promote the well-being and prosperity of our Afghan brothers and sisters.

The Iranian foreign minister said that whatever happens inside Afghanistan affects Iran and Pakistan. “Best solution to resolve issues inside Afghanistan should be within the regional framework”.

In this regard he said Iran’s special representative on Afghanistan was in his delegation. Also members from Iran’s security section.

“There will be discussions on peace and stability in Afghanistan’s region. The major portion of discussions during the visit of Pakistan’s army chief was devoted to security concerns, our borders and neighbors of Afghanistan”, he added.

Both sides also agreed to continue cooperation to counter Islamophobia and anti-Muslim hatred.

“Iran and Pakistan must continue at international fora to articulate ban on any such provocative actions. In Iran and Pakistan any action against Torah and Bible is illegal. We do not believe in such provocations as there is no space in our culture”, said Bilawal. Hossein Amir-Abdollahian in his remarks also touched upon problems in the finance sector.

“We have to find lasting solutions for existing banking and financial problems. We have reached an agreement on opening up new market points on border and special economic free trade region at border points,” he said.

Mumtaz Alvi adds: Separately, in a meeting with Iranian Foreign Minister Hossein Amir Abdollahian at the Parliament House, Senate Chairman Senate Muhammad Sadiq Sanjrani Thursday said that the relations between Pakistan and Iran are rooted in historical linkages and based on religious, linguistic, cultural similarities and spiritual affiliation.

The leader of the Iranian delegation expressed a desire to enhance mutual linkages. The delegation condemned the recent bomb blast in Bajaur and expressed solidarity with the Parliament, the people and the government of Pakistan over the unfortunate incident.