Pakistan, Iran vow to turn common frontier into 'border of prosperity'
Pakistan and Iran have vowed to turn the common frontier into a “border of prosperity” as the two neighbouring states reiterated the resolve to boost bilateral trade to $10 billion over the next five years and expeditiously finalise a free trade agreement.
In a 28-point joint statement issued following the Iranian president's three-day visit to Pakistan on Wednesday, both countries reiterated the importance of cooperation in the energy domain, including trade in electricity, power transmission lines and Iran-Pakistan gas pipeline project.
Hours after the Iranian head of state departed for Tehran from Karachi, the Foreign Office released the joint communique, stating details regarding the bilateral agreements, including plans pertaining to the Pak-Iran gas pipeline project, set forth by both the two nations.
The FO's statement comes a day after the US State Department warned against the "potential risk of sanctions" in light of the business deals between both nations.
A State Department spokesperson said: "We advise anyone considering business deals with Iran to be aware of the potential risk of sanctions."
The two countries, as per the statement, agreed to expeditiously finalise the free trade agreement and boost their bilateral trade to $10b over the next five years through joint economic projects, setting up of joint border markets, economic free zones, and new border openings.
The bilateral ties and cooperations were discussed during the delegation-level talks between Prime Minister Shehbaz Sharif and Iran’s President Raisi who visited Pakistan from April 22 to 24, accompanied by a high-level delegation comprising Foreign Minister Amir Abdollahian, as well as other members of the cabinet and senior officials.
Agreeing to turn the common border from a ‘border of peace’ to a ‘border of prosperity’, both countries reiterated the importance of cooperation in the energy domain, including trade in electricity, power transmission lines and the IranPakistan gas pipeline project.
Both sides underscored the imperative of a long-term durable economic partnership and collaborative regional economic and connectivity model, particularly for socio-economic development in
Iran’s Sistan-Balochistan and Pakistan’s Balochistan provinces.
The two sides reviewed the entire spectrum of Pakistan-Iran bilateral relations, exchanged views on regional and global issues of mutual concern, and signed multiple accords.
Pakistan and Iran reiterated their commitment and dedication to further strengthening the bilateral fraternal relations by promoting academic, cultural and tourism activities, and enhancing tourism to historic religious sites.
Both leaders reiterated the importance of forging regular cooperation and exchange of views between political, military and security officials of the two countries to combat threats such as terrorism, narcotics smuggling, human trafficking, hostage-taking, money laundering and abduction.