Pakistan, Iran to finalise Free Trade Agreement soon: PM Shehbaz

GWADAR: Prime Minister (PM) Shehbaz Sharif on Thursday said that Pakistan and Iran had decided to finalise the Free Trade Agreement soon to “exploit the immense potential in trade and investment”, ARY News reported.

The bilateral ties and cooperation were discussed in a meeting between Prime Minister Shehbaz Sharif (PM) and Iranian President Ebrahim Raisi after the two leaders inaugurated the Mand-Pishin border market.

Following the “very productive and positive” meeting, the prime minister told a gathering of local elders that the two sides had decided to move forward in the areas of trade, investment, information technology, agriculture and other sectors.

The two leaders also decided to exploit the potential for cooperation in power transmission.

He told the gathering that on his suggestion, the Iranian president also assured to move forward for enhancing cooperation in the solar energy sector.

PM Shehbaz said that during the meeting, he also put forward suggestions regarding the China-Pakistan Economic Corridor (CPEC) and that the two sided would take measures for implementation of the decisions taken in the meeting.

Regarding the inauguration of Mand-Pishin border market, the prime minister said the facility would enhance trade activity in the surrounding areas and would get an uplift as trade centers would be constructed there.

Coming to the project of 100 megawatt Gabd-Bolan transmission line, the prime minister said the project faced immense delay in the past but the incumbent government ensured its completion in the record time. Iranian President Raisi also took keen interest in the project, he added.

He said the matter related to the power tariff has also been settled amicably with Iranian government, he added.

“This is a great day for Pakistan-Iran friendship and will prove a milestone for development of the two countries,” the prime minister remarked.

Earlier in the day, Prime Minister (PM) Shehbaz Sharif and Iran’s President Seyed Ebrahim Raisi jointly inaugurated the Mand-Pishin border sustenance market aimed at boosting the bilateral trade.

This is one of the six border markets which will be constructed along the Pak-Iran common border.

The Mand-Pishin border sustenance marketplace will provide a thriving platform for increasing cross-border trade, fostering economic growth, and opening up new avenues of opportunity for local businesses.

The prime minister and the Iranian president also inaugurated the Polan-Gabd electricity transmission line at the Mand-Pishin border crossing point. The line will play a pivotal role in meeting the energy needs of the region, including households and businesses, by bringing-in an additional 100 MW of electricity from Iran.