TEHRAN: Prime Minister Muhammad Shehbaz Sharif has expressed confidence that bilateral trade between Pakistan and Iran, currently valued at $3 billion, could increase to $10 billion within the coming years, highlighting the vast potential for economic growth between the two neighbors.
Speaking to IRNA before arriving in Tehran on Monday following a two-day official visit to Turkey, the prime minister said trade relations had seen substantial growth over the past three to four years. He emphasized plans to negotiate a free trade agreement (FTA), projecting that trade volume between Pakistan and Iran could expand significantly over the next decade. Shehbaz Sharif stressed the importance of sustained economic engagement for long-term development.
The prime minister highlighted the strategic economic linkages between Pakistan’s Balochistan province and Iran’s Sistan-Baluchestan region, sharing a border of approximately 900 kilometers. He noted that enhanced cooperation between these areas could bring prosperity to the wider region and contribute positively to counter-terrorism efforts. Both countries have signed memorandums of understanding to develop projects in these provinces.
Addressing the purpose of his visit to Tehran, Shehbaz Sharif said he was there at the invitation of Iranian President Masoud Pezeshkian, primarily to thank Iran for its support during recent tensions with India. He recalled how India’s aggression was met with a measured response by Pakistan and appreciated Iran’s offer to mediate, which India declined.
The prime minister also underscored the strong brotherly ties between Islamabad and Tehran, reaffirming mutual support on matters concerning the Muslim Ummah and regional cooperation. On regional peace, he reiterated that lasting stability would remain elusive until the Kashmir and Palestine issues are resolved according to the aspirations of their peoples.
