Pakistan, Iran vow to finalize Free Trade Agreement soon

ISLAMABAD: Pakistan and Iran have agreed to finalize the Free Trade Agreement soon in a session of the Joint Trade Committee (JTC) in Islamabad on Wednesday.

The sides expressed their resolve to boost the volume of bilateral trade to 10 billion dollars as the sides signed over the agreed minutes of the 10th session of the Joint Trade Committee.

In the three-day talks Pakistan and Iran agreed over boosting trade, investment and economic cooperation.

The officials made key progress over the Free Trade Agreement rules and the procedure to bring down tariffs, to promote bilateral trade with practical measures.

The sides also agreed over strengthening business to business contacts and expanding border trade mechanism and making it more effective.

The delegations reiterated to promote the border trade and providing economic opportunities to local population.

The officials also decided to form joint committees for effective management of the joint border markets.

The delegations decided to improve transport, logistics and border coordination.

The technical committees of the two countries would continue functioning for prompt implementation of the joint decisions.