The FPCI Chambers of Commerce and Industry Federation signed a Memorandum of Understanding (MOM) with the Chamber of Commerce and Industry in a scene to enhance bilateral trade to 10 billion dollars.
According to officials, the agreement aims to increase exports between the two countries and enhance economic cooperation.
The signing ceremony was held in Lahore, which was attended by the Governor of Punjab Sardar Salim Haider Khan and the Governor -General of the Iranian province of Razafi Khwasan, Ghulam Hussein Mozafari.
The Punjab ruler highlighted Iran’s increasing interest in Pakistani products and stressed the need to expand trade relations. He also stated that the Iranian ruler confirmed the consideration of reducing visa fees for tourists and business travelers, while improving over the border trade.
The Memorandum of Understanding follows the last FPCCI advertisement that defines ambitious plans to enhance economic relations with Iran and achieve the trade goal of $ 10 billion within five years. The commitment commitment was confirmed during a high -level session of business (B2B), where officials discussed strategies to facilitate direct commercial links.
The trade between Pakistan and Iran reached 2.8 billion dollars during the fiscal year 2023-24, as Pakistan’s exports amounted to 684 million and imports from Iran, totaling 2.1 billion dollars. Iran’s exports to Pakistan witnessed a 13 % increase in 2023, reaching 944 million dollars.
