Pakistan backs Iran's nuclear programme, sets $10 billion bilateral trade target
SHARIF BACKS IRAN'S RIGHT TO NUCLEAR ENERGY
During the joint press conference, Prime Minister Sharif repeated Pakistan's support for Iran's peaceful use of nuclear energy and condemned recent Israeli aggression against Tehran."Pakistan stands with Iran for the acquisition of peaceful nuclear power," Sharif stated. He also praised Iran's response to Israeli attacks.President Pezeshkian stated that the recently signed MoUs reflect "serious and sincere efforts" by both countries to elevate cooperation across sectors and fast-track a long-awaited Free Trade Agreement (FTA).Later, Pezeshkian also met with Pakistan's President Asif Ali Zardari, who lauded Iran's principled stance on regional affairs and reaffirmed Islamabad's commitment to promoting peace and prosperity through bilateral collaboration."President Zardari appreciated Iran's principled positions on regional issues and acknowledged Tehran's consistent support for regional cooperation," according to Radio Pakistan.Pezeshkian expressed gratitude to Pakistan for its support during the recent 12-day conflict with Israel and appreciated Islamabad's efforts in promoting de-escalation and dialogue. President Pezeshkian reached Lahore on Saturday and went to Islamabad later that evening.
Earlier in the day, Pakistan's Commerce Minister Jam Kamal Khan held talks with Iranian Minister for Industry, Mines and Trade Mohammad Atabak, where the two sides reaffirmed their commitment to boosting bilateral trade.According to a statement from Pakistan's Commerce Ministry, both ministers stressed the need to remove trade bottlenecks, improve infrastructure at border crossings, and prioritise trust-based partnerships across strategic sectors.Khan emphasised the value of regional trade by drawing parallels with Asean economies. "Geography is an advantage. Pakistan and Iran must utilise this discount of distance. If we don't, we lose both time and cost benefits," he said.advertisementKhan proposed the formation of targeted trade delegations from provincial and federal chambers of commerce to explore market access opportunities. Atabak backed the idea and proposed a dedicated business-to-business (B2B) day during all future high-level visits.Both ministers identified priority areas for collaboration, including agriculture, energy, cross-border logistics, and services. Atabak also urged swift implementation of the newly signed agreements and suggested expanding trade ties to include Central Asia, Turkey, Russia, and West Asia, paving the way for a broader regional economic alliance.The Centre for Strategic and Contemporary Research (CSCR), a policy think tank in Islamabad, noted that formal trade between Pakistan and Iran stood at USD 2.3 billion in 2022, with the balance largely favouring Iran. Iran exported petroleum gas, electricity, and petroleum coke worth USD 1.488 billion to Pakistan, while Pakistan exported iron pipes, medical tools, and utility meters worth USD 842.8 million.- EndsWith inputs from PTIMust Watch
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