Pakistan signs MOU with Iran for bilateral trade worth 5 billion $

Shiite News: Pakistan has signed a trade agreement with Iran worth 5 billion dollars. Oil deficiency will also be compensated through this deal. Two countries vowed to bring bilateral annual trade up to 5 billion US $ by 2023.

According to Daily Dawn report the Government cited in its communique that an MOU regarding New Trade Targets was signed in Tehran during the 9th meeting of Iran Pakistan Joint Trade Committed meeting.

Iranian Commerce Minister, Reza Fatemi Amin said both countries are willing to enhance bilateral trade on an annual basis. He also emphasized a compact program for Pakistani Investors who are willing to in Iran. He added that we will remove all trade barriers within 3 months by extending free trade.

Furthermore, he said that Pak-Iran Authorities have already negotiated on Economic Co-operation and Joint Trade Committee was assigned a task to promote trade ties between two countries.

Advisor to Prime Minister for Trade, Abdul Razaq also expressed similar views and said Pakistan is also willing to promote bilateral trade with Iran.

In this meeting Pak-Iran Authorities, Business and Banking high ups of both countries were also present.