Given that both countries have recently been engaged in conflicts with their respective regional foes, Pakistan and Iran have signed agreements promising to increase bilateral trade to $10 billion and commit to working more closely to combat the threat of “terrorism.”
During the two-day visit of Iranian President Masoud Pezeshkian, agreements were signed in various sectors, including energy and trade.
In a joint press briefing, Pakistan’s Prime Minister Shehbaz Sharif stated, “We have set a target of $10 billion in trade and hope to achieve it as soon as possible.”
Sharif reaffirmed Pakistan’s commitment to the United Nations’ charter, which supports Iran’s right to a nuclear arsenal for peaceful purposes, and condemned Israel’s aggression against Iran. He claimed there was “no justification” for the 12-day June conflict, in which US military intervention was carried out on Israel’s behalf.
He declared that the two nations would take decisive action to end “terrorism” and promote regional prosperity. Before a ceasefire, Pakistan and its regional rival India were about to launch their fifth full-fledged conflict earlier this year, which saw heavy and deadly aerial combats.
The Iranian president expressed his “deep conviction” that we can quickly increase the volume of our trade relations from the current $3 billion to the $10 billion goal.
He thanked Iran for its support, both from the government and the populace, “during the Zionist regime’s and the US’s 12-day terrorist agression.”
According to Institute of Business Administration analyst Ammar Habib Khan, Iran and Pakistan’s informal trade are likely to grow more than the bilateral trade goal, which the two countries have agreed to achieve.
He told Al Jazeera from Karachi, “Discussions have been held on how to formalize the informal trade that is already occurring, whether it is oil, gas, or something else.”
The analyst claimed that Pakistan’s return to normal relations with Iran might cause the country to establish a trade ring.
He claimed that this route would be both efficient and practical.
Pezeshkian made his two-day visit to Pakistan on Saturday along with a high-level delegation that included ministers of foreign affairs and defense.
Tense ties
To combat security threats, Pezeshkian advocated for better border control and cooperation.
Sharif responded that Islamabad and Tehran share a common position against “terrorism,” and neither country would permit any such activity in Pakistan or Iran.
To promote peace and development in the region, Sharif remarked, “We must protect our borders and take strict measures against terrorism.”
Relations between Pakistan and Iran have frequently been strained, particularly in the wake of international tensions that became worse when both sides launched tit-for-tat missile attacks in January 2024.
According to Kamal Hyder, who is reporting from Islamabad for Al Jazeera, Pakistan and Iran have agreed to work together to stop either side from waging hostility.
He claimed that they both agreed to have more border control between the two nations.
According to Hyder, the parties also discussed Pakistan’s role as an intermediary between Washington and Tehran, among other nations attempting to saunter tensions between rival countries.
The two nations have maintained diplomatic relations despite the strains.
In light of the growing hostility with India, the Iranian foreign minister traveled to Pakistan in May. Pakistan defended Iran’s right to self-defense and condemned US attacks on Iran’s nuclear facilities during the Iran-Israel conflict.
The leaders of Pakistan and Iran also demanded that Israel’s attacks in the region and an immediate ceasefire in Gaza.
Source: Aljazeera
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