Karachi: The recent visit of Iranian President Dr. Masoud Pezeshkian to Pakistan has been marked as a pivotal moment in enhancing Pakistan-Iran relations, economic cooperation, and border trade, according to Mian Zahid Hussain, President of the Pakistan Businessmen and Intellectuals Forum (PBIF). Hussain emphasized that the visit has reinforced commitments to elevate bilateral trade from $3 billion to $10 billion, as both nations work to solidify historical ties into a substantial economic partnership.
According to Pakistan Businessmen and Intellectuals Forum, the visit underscored the importance of transforming cultural and geographical proximities into tangible economic agreements. During the 2025 visit, both countries signed 12 agreements and memorandums of understanding across various sectors. This recent engagement has reiterated the commitment to advancing cooperation in trade, investment, and energy, setting the stage for a Free Trade Agreement that aims to address existing barriers and logistical challenges.
Hussain highlighted the necessity of resolving trade-level challenges to meet the ambitious $10 billion trade target. He pointed out the need for pragmatic steps such as removing non-tariff barriers, improving banking mechanisms, and enhancing customs coordination. The declaration of Taftan Railway Station as a land customs station by the Federal Board of Revenue was welcomed as a move poised to facilitate smoother trade and reduce costs.
The press release also noted barter trade as a viable option to circumvent challenges in international payments and banking issues, particularly in sectors like agriculture and energy. Hussain emphasized Iran's potential role as a key energy partner for Pakistan amidst its economic challenges.
In light of regional geopolitical dynamics, the cooperation between Pakistan and Iran is deemed crucial for border peace and regional stability. Hussain urged the Pakistani government to ensure the effective implementation of economic strategies agreed upon during the Iranian president's visit, emphasizing the potential direct benefits for local traders and the national economy.