Pakistan & Iran chalk out a five-year trade cooperation plan 2023-2028 with a trade target of $5 biln
ISLAMABAD, August 03 (SABAH): Pakistan and Iran have chalked out a five-year trade cooperation plan 2023-2028 with a trade target of five billion dollars.
This was stated by Foreign Minister Bilawal Bhutto Zardari at a joint press stakeout, along with his Iranian counterpart Hossein Amir Abdollahian in Islamabad on Thursday.
Bilawal Bhutto said the five-year plan is aimed at removing impediments on bilateral trade, finalization of Free Trade Agreement and establishment of institutional linkages between our respect private sectors.
Bilawal Bhutto Zardari said Pakistan encompasses a vision for greater enhanced trade, which is fully aligned with Iranian President Ebrahim Raisi policy of neighborhood first. To this end, we have agreed to prioritize operationalization of the five remaining border markets by the end of this year.
The Pakistan Foreign Minister said we have decided to repatriate all the sentenced prisoners as per provisions of agreements between two sides. He said it has also been decided to set free fishermen in custody and to waive off any fine imposed by the authorities of both the countries for the release their vessels. He said the two sides will exchange lists of prisoners to put into practice this understanding expeditiously.
Bilawal Bhutto Zardari also discussed the grave human rights situation in Indian Illegally Occupied Jammu and Kashmir (IIOJK). He said we are grateful to the Iranian leadership for its firm and consistent support to the legitimate cause of Kashmiri people.
Regarding the situation in Afghanistan, the Pakistan Foreign Minister said we agreed to continue our active engagement with a view of advancing peace and stability in Afghanistan to promote wellbeing and prosperity of Afghan brothers and sisters. He said we also agreed to continue our cooperation to counter Islamophobia and anti-Muslim hatred.
“I am delighted to welcome my brother, Foreign Minister Hossein Amir Abdollahian and his accompanying delegation to Pakistan. When we took office nearly fifteen months ago, one of my first oversees visits was to Iran, in June 2022” he said.
FM Bilawal Bhutto said “today, as we near the end of our term in office, I look back with a great deal of pride and satisfaction at the progress that we have achieved during this time. A small reflection of our efforts was the joint inauguration of Mand-Pishin border marketplace and Gabd-Polan electricity project, by the Prime Minister of Pakistan and the President of Iran, on 18 May, 2023”.
“This was not merely a ‘brick and mortar’ project – it was instead, 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” FM Bilawal Bhutto said.
He said that proposals for the expansion of our cooperation in trade and economy, energy, and culture and arts are underway.
“We have already taken concrete steps to this end. A little while ago, I and my brother, Hossain Abdollahian, signed and witnessed the signing of a number of important documents:
•The Five-Year Trade Cooperation Plan between Pakistan and Iran (2023-28), which inter alia, sets a bilateral trade target of US$ 5 billion; prioritizes removing impediments on bilateral trade, finalization of the FTA, and establishment of institutional linkages between our respective private sectors;
•Protocol on Bilateral Economic Consultations, encompassing the rich and in-depth sectoral discussions held between our sides, yesterday;
• Protocol on the 3rd meeting of the Joint Investment Committee (JIC) between Pakistan and Iran, on issue of bilateral investments;
I am confident that the steps we are taking today will chart the course for a long-term and durable economic partnership between our two countries in the months and years ahead.
FM Bilawal Bhutto said that “I had a very detailed and extensive discussion with Foreign Minister Abdollahian encompassing the entire gamut of our bilateral relations. We also reviewed regional developments and our cooperation at the international arena”.
He said that Pakistan and Iran enjoy a complete convergence of views on all issues of mutual interest – we believe that our prosperity and development is firmly intertwined with peace and stability of our neighbourhood and the region. He said that Pakistan espouses a vision for greater regional integration based on enhanced trade and connectivity. This is fully aligned President Raisi’s policy of “Neighborhood First”.
“To this end, we have agreed to prioritize operationalization of the five remaining border markets, by the end of this year. We also discussed ways and means to leverage our unique strategic location, as a ‘conduit’ between South, Central and West Asia”.
“I and Foreign Minister Abdollahian agree that the ECO is uniquely placed to play this role. As founding members of the Organizations, we will work with other ECO states towards achieving this goal. The plight of prisoners and fishermen in our respective jails also came up during our talks. We have decided to repatriate all ‘sentenced’ persons in respective jails, as per provisions of existing agreements between the two sides” he said.
“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. We also reaffirmed our commitment to keep our common border as one of peace and friendship” FM Bilawal Bhutto said.
“In conclusion, let me say that I consider it a unique privilege to have had this opportunity to contribute towards strengthening Pakistan-Iran relationship – a relationship not only with a rich and a proud history, but also a bright and exultant future” FM Bilawal Bhutto said.
Speaking on the occasion, the Iranian Minister called for promoting cooperation in economy, trade and tourism under regional mechanisms. He said the two sides are fully committee to increase the bilateral trade to five billion dollars. He said we have agreed to setup a special economic free trade region along the common border points.
Hossein Amir Abdollahian said the two countries will take immediately steps for the release of fishermen and their vessels. He said convicted prisoners on both sides will be exchanged.
Emphasising on the completion of Pakistan-Iran gas pipeline, the Iranian Foreign Minister said it will definitely serve the national interests of the two countries.
He also condemned the most recent terrorist attack in Bajaur and extended sympathies with the effected people and government of Pakistan.