Pakistan and Iran have agreed to strengthen bilateral trade and economic cooperation by expanding commercial activity through the Karachi and Gwadar ports, while reaffirming their commitment to concluding negotiations on a Free Trade Agreement (FTA) in the near future.

The understanding was reached during the 10th session of the Pakistan-Iran Joint Trade Committee held in Islamabad, co-chaired by Federal Minister for Commerce Jam Kamal Khan and Iranian Minister of Industry, Mine and Trade Mohammad Atabak.

During the meeting, the Iranian minister reaffirmed Tehran's commitment to expanding comprehensive economic cooperation with Pakistan, describing the neighbouring country as a key strategic partner and emphasizing the importance of strengthening bilateral trade relations.

Commerce Minister Jam Kamal Khan stressed that operationalising joint border markets remains essential for improving cross-border commerce and supporting the livelihoods of communities living along the shared border. He noted that the private sectors of both countries are willing to expand trade and called on both governments to provide a transparent, structured and predictable business environment.

The two sides also agreed on the need to finalize practical roadmaps aimed at elevating bilateral economic cooperation and unlocking new investment and trade opportunities.

Pakistan and Iran have been working towards a comprehensive Free Trade Agreement, with both countries previously setting a target of increasing bilateral trade to $10 billion by 2028. Officials expressed confidence that the ongoing negotiations are progressing positively and can be concluded successfully in the near future, paving the way for deeper economic integration and enhanced regional connectivity.