Iran and Pakistan have agreed to establish the first joint border marketplace, an official with Trade Promotion Organization of Iran (TPOI) said on Saturday.
Reza Aqazadeh said on Saturday that Iran and Pakistan have agreed to set up the first joint border market in a bid to promote trade exchanges between the two neighborly and friendly nations.
He added that a virtual meeting was held to discuss additional agreements in the field of establishing joint border markets and that agreements were reached in this regard.
Aqazadeh referred to 950-kilometer Iran and Pakistan joint border as well as the two nation’s inclination to develop bilateral trade, adding, “It is expected that joint border markets will improve trade activities among the border inhabitants.”
“Iran-Pakistan joint markets will be set up in Kouhak and Pishin (Saravan) borders in near future,” he said, noting, “Pakistan has suggested six points to launch joint markets and the Iranian side is interested in setting up as many joint markets.”
“Pakistan has a very high capacity to increase the quantity and quality of trade ties with Iran and estimates show that by creating the necessary infrastructure, trade between the two countries can rise to $14 billion a year,” the official stated.
In relevant remarks in December last year, Aqazadeh said that the third cross-border gateway would be opened with Pakistan by February 2021 after the second gateway had been opened on Rimdan-Gabd border point.
He said that according to the Pakistani Prime Minister Imran Khan"s instruction, Pishin-Mand border crossing will open between the two countries by February 2021, to increase the official border crossings to three points.
“This will considerably increase trade ties between the two countries,” Aqazadeh added.
“With Iran’s plan to expand border markets, the Pakistani side also has raised the establishment of six border markets by sending the text of a memorandum of understanding (MOU),” the official went on to say.
Source: Farsnews - Date: (07 Mar 2021)