Pakistan, Iran ink 39 MoUs to uplift trade

January 17, 2023 (MLN): Pakistan signed 39 memorandums with Iran to increase bilateral trade and improve economic relations between both countries during a two-day meeting of the joint border trade committee on Sunday. 

Both sides discussed many issues regarding the implementation of agreements signed between the two countries in 2010 and 2006 for increasing trade volume and providing facilities for import and export at the Pak-Iran borders.

Zahidan Chamber of Commerce, Industries, Mines and Agriculture, and Quetta Chamber of Commerce and Industry will make the joint investment for the provision of the required infrastructures in customs, trade, transportation, and airline sectors. 

It was decided that the concerned authorities would be approached to increase the number of items included in the Preferential Trade Agreement (PTA) signed between Pakistan and Iran and to reduce tariffs.

Furthermore, both countries agreed on opening of more joint border markets to increase the trade volume. 

It was decided that recommendations should be sent to higher authorities for the establishment of new joint border markets at Jalgh-Mashkel (second priority), Mir Javeh-Taftan (first priority), and Shamsar (third priority) after approval by the relevant authorities and identification of exact locations by a joint technical team.

In the meeting, they discussed reducing import tariffs on fresh fruits through negotiations with the relevant authorities and approved to set up of maritime clearance stations at Pasabandar in Iran and Jiwani in Pakistan for bilateral trade.

The Iranian side agreed to declare Gabd-Ramdan as the designated TIR border at the earliest for conducting international transit trade from Pakistan towards Turkiye, Azerbaijan, Russia, and other regional countries via Iranian territory. They proposed to declare Pishin/Mand as the designated TIR station.

Iranian authorities committed to providing shelter to Pakistani rice at Zahidan customs. 

They also proposed that LPG in cylinders may be allowed to be imported via all land border stations from Iran to Pakistan.

The meeting was informed that a ferry service with Iran is being finalized and the same will be shared with the Iranian side after the completion of codal formalities.

Pakistan decided that the number of railway wagons for freight transportation would be increased to 500 on the completion of a bridge at Hirak by the end of June 2023, considering the increased demand of the traders.

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