ISLAMABAD, August 18: Pakistan and Iran have decided to finalize and sign the Free Trade Agreement within the next six months in order to increase bilateral trade.
The decision was taken at the 21st Session of Pak-Iran Joint Economic Commission hosted by Pakistan from August 16-18, the commerce ministry said. It was also discussed that the two sides decided to work together to opertionalise the Barter Trade as per the Agreement signed between Quetta and Zahidan Chambers.
Both sides further agreed to discuss removal of Tariff and Non-Tariff Barriers to enhance bilateral trade. On the sidelines of the JEC, the apex Chambers of Commerce from the two sides decided for more frequent business to business integrations.
Moreover, in order to facilitate trade an additional border crossing point at Gabd (near to Gwadar)-Reemdan has recently been operationalized by Pakistan. In addition, the purpose of the agreement on International Transport between Pakistan and Iran aims to facilitate trade traffic from Turkey to Pakistan through Iran, while Iranian goods and passengers can have access to China through Pakistan.
Pakistan will have the benefits of access to other Central Asian Republics and Europe through Turkey with operationalization of the decisions taken in the 21st session of JEC. – DNA
- Latest
- Trending
