Pakistan and Iran Set Sights on $10 Billion Trade Milestone : PM Shehbaz Sharif Announces Bold Economic Push

Prime Minister Muhammad Shehbaz Sharif announced on Sunday that both Pakistan and Iran are determined to ramp up their bilateral trade volume to a target of $10 billion at the earliest opportunity.

Speaking at a joint press briefing with the newly elected President of the Islamic Republic of Iran, Dr. Masoud Pezeshkian, the Prime Minister confirmed that both nations signed several significant documents to convert them into actionable agreements aimed at realizing this ambitious trade target.

He further stated that detailed discussions between delegations from both sides will follow to accelerate progress.

During the bilateral meeting, leaders from Pakistan and Iran discussed a wide range of issues, including political ties, religious and cultural connections, and opportunities to strengthen brotherly relations.

Prime Minister Sharif expressed appreciation for President Pezeshkian’s heartfelt message to the people of Pakistan.

He also condemned Israel’s recent unprovoked aggression against Iran in June, emphasizing that not only the government but all 240 million Pakistanis stood in solidarity with Iran.

He extended his condolences for the loss of Iranian generals, scientists, and civilians and offered prayers for the victims and the injured.

Commending Iran’s response to the attacks, the Prime Minister praised the courage and restraint shown by Iranian leadership, highlighting how their retaliatory missile strikes exposed weaknesses in Israel’s defense systems.

Iran Grateful for Pakistan’s Support During Israeli Strikes

President Dr. Masoud Pezeshkian thanked the Pakistani government, parliament, and people for their unwavering support during the 10-day Israeli assault on Iran. He emphasized the deep-rooted ties between the two nations, which are based on shared religious, cultural, and historical values even quoting poetry by Allama Muhammad Iqbal to emphasize the need for unity among Muslim nations.

He reaffirmed that Pakistan is not just a neighbor but a brotherly nation, and advancing regional cooperation is a top priority in Iran’s foreign policy.

The Iranian President said he was pleased to see genuine and serious efforts being made on both sides to collaborate across various sectors and increase the current $3 billion trade volume to $10 billion.

Major Agreements Signed to Boost Bilateral Ties

On Sunday, both leaders witnessed the signing of 12 key agreements and Memoranda of Understanding (MoUs) to deepen cooperation. These included:

• Plant protection and quarantine

• Science, technology, and innovation collaboration

• Information technology

• Cultural, educational, youth, health, and research exchange programmes

• Maritime security and fire extinguishing protocols

• Judicial assistance

• Product inspection and quality standards

• Tourism cooperation

• Joint ministerial statement on a Free Trade Agreement (FTA)

President Pezeshkian confirmed that steps would be taken swiftly to implement these agreements. He highlighted the development of land, sea, and air routes to facilitate smoother trade between the two countries.

Enhanced Border Security and Regional Stability

Acknowledging security threats in border areas, both sides agreed to tighten border controls to protect the lives of citizens.

The Iranian President emphasized that economic cooperation and trade development would lead to regional peace, prosperity, and stability.

He strongly condemned Israel’s actions in Gaza, labeling them as aggression and genocide, and reiterated Iran and Pakistan’s joint call for the international community to abandon double standards and respect sovereignty and territorial integrity of nations.

A Warm Welcome to Pakistan

President Pezeshkian described Pakistan as his second home, expressing deep gratitude to the government and Prime Minister Sharif for the warm reception and hospitality.

As both nations move ahead with renewed vigor and a shared vision for economic growth, the agreements signed mark a significant turning point in Pakistan-Iran relations, promising stronger ties in trade, diplomacy, and regional cooperation.