Iran-Pakistan Economic Commission Convenes

EghtesadOnline: The 20th meeting of Iran-Pakistan Economic Commission is scheduled to convene in Tehran on April 16-17.

News ID: ۷۷۵۴۶۶

16 April 2017

A Pakistani delegation headed by Minister of States and Frontier Regions Abdul Qadir Baloch was due to arrive in the Iranian capital for the event, IRNA reported.

The two sides plan to survey topics of mutual interest, including free trade agreements, cooperation in the energy sector, ways of expanding bilateral trade and restoration of banking ties.

The previous session of the joint commission was held in Pakistan on December 8, 2014, where Minister of Economic Affairs and Finance Ali Tayyebnia headed the Iranian delegation, Financial Tribune reported.

Iranian President Hassan Rouhani visited Pakistan in March 2016 and agreed on a five-year strategic trade expansion plan with the aim of promoting bilateral trade to $5 billion.

Iran’s Ambassador to Pakistan Mehdi Honardoust reported in February that trade between Iran and Pakistan over the nine months to December 20, 2016, increased by 35% compared with the preceding year’s corresponding period to stand at $805 million.

Over the period, Iran exported $573 million worth of goods, including but not limited to propane, butane, tar, oil, gas derivatives and nuts to the neighboring country.