Pakistan, Iran sign trade and cooperation protocols to boost $10bn target

The 22nd session of the Pakistan-Iran Joint Economic Commission (JEC) concluded in Tehran on Tuesday with both countries signing key protocols aimed at achieving the $10 billion bilateral trade target set by their leadership.

The meeting, co-chaired by Pakistan’s Federal Commerce Minister Jam Kamal Khan and Iran’s Minister for Roads and Urban Development Farzaneh Sadegh, reviewed existing ties and outlined a framework for deeper cooperation across economic, commercial and cultural spheres.

Both sides pledged to expand collaboration in trade, investment, energy, agriculture, transport, housing, health, education and cultural exchanges. At the closing ceremony, the two ministers signed a comprehensive protocol covering these areas.

Among the key agreements were steps to remove tariff and non-tariff barriers, operationalise border markets, and encourage regular business-to-business contacts. On energy, the two countries agreed to enhance electricity supply, resume work on a 220-kilovolt transmission line to Gwadar, and explore renewable energy opportunities. A joint working group will also be established to promote investment in the power sector.

Agriculture and environmental cooperation included commitments on veterinary health, pest control, seed technology and equipment sharing, as well as joint strategies to address climate challenges such as sand and dust storms and mangrove conservation.

Transportation and connectivity featured prominently, with agreements to strengthen road, rail, air and maritime links. Plans were discussed to boost rail cargo, improve air navigation services, and launch ferry services for passengers and pilgrims.

The two countries also advanced cooperation in health, including training, pharmaceutical registration and cross-border disease surveillance. In labour, a joint committee will oversee worker mobility in construction, textiles and agriculture. Both sides reaffirmed commitments to joint counter-narcotics efforts and agreed to streamline visa procedures for businessmen and drivers.

Cultural and educational ties will be expanded through festivals, media partnerships, academic exchanges and vocational training programmes.

A Pakistan-Iran business forum was also held on the sidelines of the JEC, bringing together leading private sector representatives to explore new investment opportunities.

At the closing session, Minister Jam Kamal welcomed the outcome of the talks, calling the signed protocols “a clear roadmap for cooperation” and reaffirming both nations’ commitment to strengthening trade, transport, industrial development and customs facilitation.