Iran and Pakistan established a $10 billion goal for bilateral commerce

Pakistan and Iran resolved on Monday to increase economic and security cooperation by establishing a $10 billion bilateral trade target and working together to combat the threat of terrorism, three months after the two nations were on the approach of a massive clash.

Following official negotiations between Iranian President Ebrahim Raisi and Prime Minister Shehbaz Sharif, an agreement was achieved between the two neighbors.

In an attempt to repair relations with Pakistan following Iran’s January missile attacks within the nation, Raisi traveled to Islamabad. Two days later, Pakistan responded with identical strikes, setting off an unprecedented crisis between the two Muslim nations.

However, as soon as Iran sent its senior ambassador to Islamabad, the situation was promptly brought under control. The two nations have been working to put that negative chapter in their bilateral relations behind them ever since.

Officials claim that Tehran places a high value on its relations with Pakistan since the Iranian president visited Islamabad in spite of escalating hostilities with Israel.

The cordial welcome that President Raisi is receiving from Pakistan also suggests Islamabad’s desire to move past the January tit-for-tat missile attacks.

It was a hectic day for Raisi in the capital. He had meetings with President Asif Ali Zardari, Chief of Army Staff (COAS) General Asim Munir, PM Shehbaz, and delegation-level discussions. The visiting president was also received by the Speaker of the National Assembly and the Chairman of the Senate.

The two parties covered a wide variety of topics during official meetings at the Prime Minister’s House, including bilateral relations as well as regional and global challenges.

The two presidents underlined their commitment to extending broad bilateral cooperation during a joint press conference after their discussions, with a focus on commerce, energy, connectivity, culture, and people-to-people interactions.

Both parties acknowledged that the amount of commerce that now exists between their two neighbors is intolerable. They decided to boost bilateral commerce from its present level of about $2 billion to $10 billion.

The topics of border security and terrorism were hot topics in light of their recent hostilities.

PM Shehbaz emphasized that fighting terrorism required cooperation from all parties as it posed a common challenge. The president of Iran believed that their bilateral relationship will experience a “turning point” as a result of his visit.

Both leaders emphasized their extreme concern for the state of affairs in Gaza and demanded that international efforts be directed toward the immediate and unconditional cessation of hostilities, the easing of the siege, and the provision of humanitarian aid to the Gaza population. PM Shehbaz praised Iran’s stance against Israel.

The prime minister also expressed gratitude to Iran’s leadership for Iran’s unwavering and moral support of the people of Kashmir and their rights.

Raisi stated in her statements that the United States and other Western nations were supporting Israel’s deaths in Gaza. The United Nations was among the foreign organizations he criticized, stating, “They claim to support human rights, but they have proven to be inefficient.”

As to the PM’s office, the two leaders also inked eight agreements for cooperation.

The long-delayed project of the Iran-Pakistan gas pipeline was also deliberated by both parties. It was intended for the multibillion-dollar gas pipeline to be finished by December 2014. However, Pakistan was unable to start construction on its side of the border due to fear of US economic penalties.

Nonetheless, Pakistani officials recently made the decision to begin development on the project. Pakistan would construct a pipeline from Gwadar to the Iranian border in the first stage.

The US, however, expressed its worries and cautioned that the Pakistani action would lead to possible economic penalties.

According to officials, Iran was aware of Pakistan’s constraints and throughout the negotiations, they explored potential workarounds for the US sanctions. They also said that Iran was prepared to assist Pakistan in determining how to finish the project.

Raisi is escorted by his spouse and a delegation of high standing. He is scheduled to travel to Lahore, where he will meet with Maryam Nawaz Sharif, the nation’s first elected female chief minister, and to Karachi, the largest metropolis in the nation.

Following an Israeli strike in Syria that claimed the lives of two Iranian generals inside a consulate facility, Iran launched an airstrike into Israel, prompting the current visit.