The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) have signed a Memorandum of Understanding (MoU) aimed at strengthening bilateral trade and economic cooperation between Pakistan and Iran.

The agreement was signed in Islamabad during the closing ceremony of the 10th session of the Pakistan-Iran Joint Trade Committee by FPCCI President Atif Ikram Sheikh and ICCIMA Vice President Hossein Pirmoazzen.

The Joint Trade Committee meeting was co-chaired by Federal Minister for Commerce Jam Kamal Khan and Iran's Minister for Industry, Mines and Trade Dr. Mohammad Atabak.

During the meeting, both sides discussed measures to expand bilateral trade and economic cooperation and agreed on a roadmap to address challenges faced by the business communities of the two countries.

Under the MoU, FPCCI and ICCIMA agreed to:

• Promote barter trade
• Strengthen business-to-business (B2B) linkages
• Enhance industrial cooperation and investment
• Increase private sector engagement
• Facilitate the implementation of bilateral trade agreements
• Activate joint border markets to support cross-border trade

Speaking at the ceremony, Atif Ikram Sheikh described the Joint Trade Committee session as a historic milestone in Pakistan-Iran economic relations.

He reaffirmed the Pakistani business community's commitment to working closely with its Iranian counterparts to achieve the shared target of increasing bilateral trade to $10 billion.

He also welcomed the agreed roadmap for addressing border-related trade issues and expressed confidence that stronger cooperation between FPCCI and ICCIMA would create new opportunities for trade, investment, industrial partnerships, and regional economic integration.

At the conclusion of the two-day session, the commerce ministers of Pakistan and Iran signed the agreed minutes documenting the outcomes of discussions on trade and broader economic cooperation.