The latest developments emerged during a meeting in Islamabad between Prime Minister Shehbaz Sharif and an Iranian delegation led by Iran’s Minister of Industry, Mine and Trade, Syed Mohammad Atabak. The discussions focused on removing barriers to trade and creating a more efficient system for the movement of goods between the two neighboring countries.

Around-the-Clock Border Crossings

One of the most notable outcomes of the meeting was the agreement to work towards keeping border crossings operational 24 hours a day. Continuous border operations are expected to reduce delays, improve supply chain efficiency, and make it easier for businesses on both sides to transport goods.

Alongside extended operating hours, Pakistan and Iran also agreed to modernize border infrastructure, simplify customs procedures, and strengthen logistical coordination. These measures are intended to make cross-border trade faster, more transparent, and more cost-effective.

Expanding Cooperation in Mining

Beyond trade facilitation, both countries are looking to strengthen collaboration in the mining sector. Discussions highlighted opportunities in mineral development, particularly the processing and value addition of precious stones. By investing in downstream industries instead of exporting raw materials, both nations aim to generate greater economic value and create new employment opportunities.

Shared Vision for Economic Growth

Prime Minister Shehbaz Sharif reiterated Pakistan’s commitment to building stronger relations with Iran, describing the neighboring country as an important regional partner. He expressed confidence that sustained cooperation and regular dialogue would help both nations achieve their ambitious trade target.

The Prime Minister also pointed to agriculture and food products as sectors with strong potential for increased bilateral trade, offering new opportunities for businesses and exporters in both countries.

Progress Towards a Free Trade Agreement

Iranian Minister Syed Mohammad Atabak reaffirmed Tehran’s commitment to expanding economic cooperation and revealed that technical discussions on a bilateral Free Trade Agreement (FTA) are continuing. A comprehensive trade agreement could further reduce barriers, encourage investment, and increase the volume of goods exchanged between the two countries.

Rebuilding Trade Momentum

Trade between Pakistan and Iran has faced challenges over the past decade, particularly after international sanctions on Iran affected banking channels and financial transactions. Before those restrictions, bilateral trade had reached more than $1.2 billion, with Pakistan exporting products such as rice, textiles, surgical instruments, meat, fruits, and paper, while importing chemicals, plastics, petroleum products, and steel from Iran.

Recent initiatives, including plans for border Special Economic Zones (SEZs), are expected to help revive commercial activity and encourage greater private-sector participation.

Looking Ahead

The renewed commitment by Pakistan and Iran reflects a broader effort to strengthen regional economic integration through improved connectivity, investment, and trade facilitation. If both countries successfully implement round-the-clock border operations, advance customs reforms, and conclude a Free Trade Agreement, bilateral commerce could experience substantial growth in the years ahead.

As both governments continue working toward the $10 billion trade target, stronger economic cooperation has the potential to benefit businesses, create employment opportunities, and contribute to greater regional prosperity.

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