Iran and Pakistan have agreed to increase trade to $8 billion a year. The two nations have signed multiple deals on energy and trade, during Iranian President Masoud Pezeshkian's first official visit to the country.

Islamabad

The Iranian president led a high-level delegation to Pakistan for a two-day state visit, where he was received with official ceremonies in Lahore and Islamabad. During the visit, both nations signed agreements to enhance cooperation in information technology, agriculture, tourism, and connectivity, and discussed strengthening defence ties.

The discussions resulted in plans to increase bilateral trade to $8 billion annually, which both sides described as a new phase in their strategic economic partnership. However, US sanctions continue to hinder certain projects, such as the completion of Pakistan’s portion of a pipeline from Iran. The visit also included mutual expressions of support regarding regional security concerns.

Pakistan’s Sharif hosts Iran’s Pezeshkian, agrees to security, trade boost

The Iranian president, leading a high-level delegation, arrived in Pakistan on Saturday for a two-day visit. His first port of call was the city of Lahore, where he was welcomed by the chief minister. The Iranian president paid a visit to the mausoleum of the famous poet and philosopher Allama Iqbal before flying off to Islamabad. In the capital, the Iranian president was received by the Pakistani prime minister and foreign minister. Islamabad rolled out the red carpet in a 21-gun salute to welcome the Iranian entourage. The two sides held discussions on wide-ranging issues, including enhancing defence ties and signed a number of agreements for cooperation in IT, agriculture, tourism and increased connectivity. Shortly after, Pakistan's prime minister reiterated his nation's support for its neighbour. In June, Israel launched an unprovoked act of aggression against Iran. This action was strongly condemned not only by the government of Pakistan but also by the people of Pakistan, reflecting the collective stance of a nation of over 240 million. Such reckless aggression only fuels instability and threatens regional peace. The position adopted by the government, parliament, political parties, movements and the dear people of Pakistan in defending and supporting the Republic of Iran during the 12-day terrorist aggression by the Zionist regime and the United States were very encouraging. For this, I sincerely thank the prime minister, other officials and the people of the friendly and brotherly country of the Islamic Republic of Pakistan. By the end of the visit, Iran and Pakistan had agreed plans to enhance their trade relations to the tune of $8 billion a year. Both Iran and Pakistan are describing the talks as a new phase of strategic economic partnership, but US sanctions prevent Pakistan from building its end of the pipeline from Iran. The Iranian delegation headed by the president also attended a banquet thrown by the Pakistani president. In the past few years, relations between the countries were getting stronger, but serious challenges remained with mounting US sanctions. Kamal Haider Al Jazeera, Islamabad.

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Breakdown