Business community backs Pakistan-Iran trade pact
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MG News | August 05, 2025 at 11:13 AM GMT+05:00
August 5, 2025 (MLN): The business community has welcomed
the recently concluded Free Trade Agreement (FTA) between Pakistan and Iran, along
with 12 ministerial-level accords viewing it as a major breakthrough for
regional economic integration and growth.
The Korangi Association of Trade and Industry (KATI) President
Junaid Naqi highlighted that with mutual commitment, bilateral trade could
expand to $10 billion, particularly in high-potential sectors such as textiles,
pharmaceuticals, leather, and food products.
He also stressed the importance of leveraging Iran’s
low-cost energy resources to drive Pakistan’s industrial competitiveness,
stated a press release issued yesterday.
“Pakistan and Iran enjoy a long-standing relationship rooted
in historical solidarity. This Free Trade Agreement can redefine our economic
landscape and help both countries meet their growth targets through enhanced
regional collaboration,” he noted.
Lately, Pakistan and Iran have accelerated efforts to deepen
bilateral ties, signing 12 new agreements and MoUs covering trade, technology,
tourism, border management, and judicial cooperation culminating in the
long-awaited Free Trade Agreement aimed at boosting trade by 2028.
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