Pakistan, Iran agree to enhance trade to $5 billion

TEHRAN – Pakistan and Iran on Wednesday reviewed their present trade level and agreed to formulate a five-year plan to increase bilateral trade from the existing $1 billion dollars to $5 billion. The decision was made in the 7th meeting of Pak-Iran Joint Trade Committee held in Tehran. Minister for Commerce Khurram Dastgir Khan headed the Pakistani delegation while the Iranian side was led by the Minister for Industry, Mines and Trade Mohammad Reza Nematzadeh. Both sides agreed to form a working group to widen the scope of the 2006 Pak-Iran Preferential Trade Agreement. The two sides urged the need for joint investment in agro-food processing and infrastructure, particularly in the field of establishing effective rail, air, road and sea links between the two countries. On Iran-Pakistan gas pipeline, Khurram Dastgir said Pakistan will arrange construction of the remaining portion of gas pipeline from Gwadar to Iran border thus paving way for import of Iran's gas by Pakistan. – 92 News