ISLAMABAD: Pakistan and Iran have concluded a three-day session of the 10th Joint Trade Committee (JTC) with significant progress toward finalising the technical framework for a proposed Free Trade Agreement (FTA), marking another step in efforts to strengthen bilateral economic cooperation.
Officials said the discussions resulted in satisfactory progress on the technical aspects of the proposed agreement, paving the way for further negotiations aimed at finalising the FTA in the near future.
The closing session of the committee was co-chaired by Pakistan’s Commerce Minister Jam Kamal Khan and Iran’s Minister of Industry, Mines and Trade Dr Mohammad Atabak, who reviewed key areas of trade cooperation and future economic collaboration between the two neighbouring countries.
According to officials, the initiation of technical-level negotiations during the 10th JTC meeting has created positive momentum for concluding the Free Trade Agreement. Both sides expressed optimism that the agreement would significantly enhance bilateral trade, improve market access, and encourage greater investment and business collaboration.
Pakistan and Iran have set an ambitious target of increasing bilateral trade to $10 billion in the coming years. However, officials did not announce a specific timeline for achieving the goal, stating that further technical consultations would continue before the agreement is finalized.
At the conclusion of the meeting, Commerce Minister Jam Kamal Khan and his Iranian counterpart Dr Mohammad Atabak signed the agreed minutes of the session, formally documenting the understandings and decisions reached during the three-day talks.
Officials believe the proposed Free Trade Agreement will help remove trade barriers, facilitate cross-border commerce, and create new opportunities for businesses in both countries. It is also expected to strengthen cooperation in sectors including industry, manufacturing, agriculture, mining, and investment.
The successful conclusion of the Joint Trade Committee meeting reflects the shared commitment of Pakistan and Iran to expanding economic ties and deepening regional trade cooperation through long-term strategic partnerships.
