PM Shehbaz: Pakistan and Iran Determined to Expand Trade Volume to $10 Billion

Prime Minister Shehbaz Sharif, on Sunday, stated that both the leadership of Pakistan and Iran were committed to increasing their bilateral trade volume, aiming to reach $10 billion as soon as possible.

While addressing a joint press stakeout alongside President of the Islamic Republic of Iran, Dr. Masoud Pezeshkian, the Prime Minister highlighted that a series of documents were signed today, which will be transformed into binding agreements to help realize the full potential of this trade target. He added that delegations from both nations would hold further in-depth discussions to advance this goal.

During the bilateral meeting, both leaders explored a wide range of subjects, including their long-standing fraternal relationship, deep-rooted religious and cultural connections, and ways to further strengthen these ties.

The Prime Minister expressed sincere gratitude to the Iranian President for his heartfelt message to the people of Pakistan.

Referring to recent regional tensions, the Prime Minister condemned Israel’s unprovoked aggression against Iran in June, describing it as unjustified. He noted that this act was strongly condemned not only by the Government of Pakistan but also by its 240 million citizens.

He offered condolences for the martyrdom of Iranian generals, scientists, and civilians, praying for the departed souls and for the speedy recovery of the injured.

Prime Minister Sharif also commended Iran’s leadership for displaying courage and wisdom in response to Israeli hostility. He acknowledged that Iran’s counteroffensive missile strikes effectively exposed vulnerabilities in the Israeli defense system.

President Dr. Masoud Pezeshkian, in his remarks, expressed appreciation for the consistent support shown by the Parliament, Government, and people of Pakistan during the 10-day Israeli aggression.

He emphasized the deep religious, cultural, and historical ties that bind Pakistan and Iran, citing the poetry of Allama Iqbal that advocates for Muslim unity.

He reiterated that strengthening relations with neighboring countries is a cornerstone of Iran’s foreign policy, and Pakistan is not only a neighbor but a brotherly nation.

The President expressed satisfaction that both sides are making genuine and determined efforts to enhance cooperation across multiple sectors, aiming to increase the current trade volume from $3 billion to $10 billion.

He noted that the signing of several important documents today would help boost bilateral collaboration in various fields.

President Pezeshkian affirmed his government’s determination to implement the agreements, highlighting the importance of developing land, sea, and air routes to facilitate trade.

In light of security challenges posed by terrorists in border regions, both countries agreed to enhance border security measures to ensure the safety of their citizens.

He stressed the importance of advancing trade and economic cooperation, viewing it as a pathway to regional prosperity, stability, and peace.

The President also condemned Israeli aggression in Gaza and its efforts to destabilize the region.

He emphasized the urgent need for greater cooperation among Muslim nations to counter the expansionist agenda of the Zionist regime and to secure long-term peace.

Both Iran and Pakistan have urged international organizations to abandon their double standards, and to prevent the escalation of war and violations of sovereignty and territorial integrity.

President Pezeshkian expressed his happiness at visiting what he called his “second home” — Pakistan — and thanked the Government and the Prime Minister for their warm hospitality.

Earlier, Prime Minister Sharif and President Pezeshkian witnessed the signing of 12 agreements and MoUs to strengthen cooperation in various areas, including plant protection, science and technology, IT, education, health, maritime security, judicial collaboration, tourism, and trade inspection. A joint ministerial statement was also signed concerning a Free Trade Agreement (FTA).