Iranian president vows to boost trade with Pakistan to $10 billion a year

Iran's President Ebrahim Raisi and Pakistan's Prime Minister Shehbaz Sharif vowed on Monday to boost trade between the neighboring nations to $10 billion a year, as Raisi commenced a three-day visit amid tight security in the Pakistani capital.

The visit comes as the two Muslim neighbors seek to mend ties after unprecedented tit-for-tat military strikes this year.

"Both sides agreed to increase the volume of bilateral trade to 10 billion US dollars in the next five years," Sharif's office said in a statement after a joint news briefing.

"They also agreed to cooperate in developing joint approaches to confront common challenges including the threat of terrorism," the statement said.

Official figures for current annual trade were not available. Local media outlet Business Recorder, citing Iran's then-ambassador to Pakistan, last year reported bilateral trade worth over $2 billion.

Raisi, who was accompanied by a delegation that included the country's foreign minister and cabinet members, will next visit the eastern city of Lahore and southern port city of Karachi.



Reuters