Pakistan-Iran trade volume exceeds $2 billion mark

The volume of bilateral trade between Pakistan and Iran has exceeded $2 billion for the first time in their economic relations, according to a recent revelation made during a farewell meeting for outgoing Iranian Ambassador Syed Mohammad Ali Hosseini with Federal Minister for Economic Affairs Sardar Ayaz Sadiq. The meeting took place at the Ministry of Economic Affairs on Tuesday.

During the meeting, Ambassador Hosseini mentioned that Iran is initiating several projects including an electricity transmission project and a trial run border market that will be completed in the near future. The ambassador also stated that Iran currently exports 144MW of electricity to Pakistan and this figure is expected to double after the completion of power projects in Pakistan. He added that Iran has the potential to export 500MW of electricity to Pakistan.

Minister Sadiq expressed his gratitude to Ambassador Hosseini for his dedicated service in strengthening economic ties between the two countries. The minister noted that bilateral trade between the two countries has increased significantly under the ambassador’s leadership, and joint projects have been initiated in various sectors, including energy, agriculture, and infrastructure. The minister also praised the ambassador for his role in facilitating the Iran-Pakistan gas pipeline project.

Ambassador Hosseini appreciated the support and warm hospitality he received during his tenure in Pakistan and expressed his commitment to enhancing economic relations between the two countries. He also mentioned that the bilateral negotiations between Pakistan and Iran on transportation, customs and commerce are reaching a conclusion in the near future.

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