Tehran, Islamabad to increase bilateral trade to $5 billion annually

TEHRAN (defapress) – Iran’s Consul General in Quetta, Pakistan says that Iran and Pakistan aim to increase bilateral trade from current volume $1.5 to $5 billion.

News ID: 68636

Date: 13 February 2018 - 10:23

Mohammad Rafiee Consul General of the Islamic Republic of Iran in Quetta, Pakistan made the remarks in a ceremony to celebrate the 39th anniversary of the victory of Iran’s Islamic Revolution in the same city on Monday.

Pointing to the cultural and religious commonalties between the two nations, Rafiee said that the two sides aim to enhance their relations to a higher level.

He reported that at the last joint meeting between the trade officials of the two countries in Zahedan, Iran, the two sides signed important agreements.

According to the latest statistics, the volume of trade between Iran and Pakistan during the first nine months of Iranian year 1396 (which began on March 21, 2017) shows an increase of 49%.

During the same period, Iran’s exports to Pakistan increased by 7%, meanwhile, Pakistan exports to Iran rose by 42% compared to the year before.

The total amount of bilateral trade in the nine months of the current Iranian year stood at $ 982 million.

The value of Iran's exports to Pakistan stood at $ 795 million the year before (1395), while the value of imports from neighboring country to Iran was about $ 365 million.

Iran’s Consul General in Quetta said that the two side in their recent meetings have agreed to increase their bilateral trade to $5 billion.