Pakistan, Iran chambers sign MoU to boost bilateral trade to $10 billion

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) signed a Memorandum of Understanding on Thursday to strengthen bilateral trade.

The agreement was signed in Islamabad during the closing ceremony of the 10th session of the Pakistan-Iran Joint Trade Committee.

What is the agreement between Pakistan and Iran?

The MoU commits FPCCI and ICCIMA to promoting barter trade, strengthening business-to-business linkages, and expanding industrial cooperation and investment. It also aims to facilitate bilateral trade agreements and activate joint border markets. Both sides set a shared target of raising bilateral trade to $10 billion.

Who signed the Pakistan-Iran trade MoU?

Atif Ikram Sheikh, President of FPCCI and holder of several regional chamber roles including the ECO Chamber presidency and SCO Business Forum deputy chairmanship, signed on Pakistan's behalf. Hossein Pirmoazzen, Vice President of ICCIMA, signed for Iran.

The Joint Trade Committee session itself was co-chaired by Pakistan's Commerce Minister Jam Kamal Khan and Iran's Minister for Industry, Mines and Trade, Dr Mohammad Atabak.

What did the two-day trade committee session cover?

Over two days, both sides held detailed discussions on expanding bilateral trade and economic cooperation, reaching key understandings across multiple sectors. They agreed on a comprehensive roadmap to address challenges facing business communities in both countries. At the session's conclusion, the two commerce ministers signed agreed minutes documenting the outcomes of the talks.

Who attended the MoU signing ceremony?

The ceremony drew a wide range of officials from both countries. Pakistan's delegation included FPCCI Vice President Tariq Khan Jadoon and Karim Aziz Malik, In-charge of the FPCCI Capital Office.

Iran's delegation included Ambassador Dr Reza Amiri Moghadam, chamber presidents from Kerman and Zahedan, and commission chairmen from the Tehran Chamber covering trade facilitation, energy and transportation, along with several company executives and Iran Chamber officials.

What did FPCCI's president say about the trade deal?

Sheikh described the Joint Trade Committee session as a historic milestone in Pakistan-Iran economic relations. He reaffirmed the Pakistani business community's commitment to working with Iranian counterparts to reach the $10 billion bilateral trade target.

He welcomed the governments' plan to address border-related trade issues and said stronger FPCCI-ICCIMA collaboration would open new opportunities for trade, investment, and regional economic integration.