Tehran, Islamabad to Boost Trade Exchange Five-Fold: Iran’s Boroujerdi

Tehran, Islamabad to Boost Trade Exchange Five-Fold: Iran’s Boroujerdi

TEHRAN (Tasnim) – Chairman of the Iranian Parliament’s National Security and Foreign Policy Commission Alaeddin Boroujerdi said Tehran and Islamabad have decided to boost the volume of their trade exchange five-fold to $5 billion.

“Pakistan and Iran have agreed to enhance bilateral trade from one billion to five billion dollars,” Boroujerdi told reporters as cited by Pakistan’s Business Recorder on Monday.

He made the remarks recently after a meeting with senior Pakistani officials in Islamabad.

He added that the two neighboring countries have also agreed to connect Iran's Chabahar and Pakistan's Gwadar seaports to Central Asian states and China to enhance regional cooperation.

Chabahar and Gwadar are sister ports and will help boost bilateral trade between the two countries, the senior Iranian lawmaker said.

Boroujerdi further called on Iran, Pakistan, China and Russia to expand their mutual ties. 

Back in 2016, high-ranking officials from Iran and Pakistan signed six memorandums of understanding (MoUs) to strengthen bilateral cooperation in various areas, including health, commerce, security and foreign services.

The documents were signed in a ceremony in Islamabad on March 26, attended by Iranian President Hassan Rouhani and Pakistani Prime Minister Nawaz Sharif, after a meeting between the two countries’ delegations.

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