ISLAMABAD: Pakistan and Iran signed a five-year trade plan on Thursday that set the bilateral trade target between the two countries at $5 billion, with both sides also agreeing to repatriate prisoners serving sentences in each other's countries.
Pakistan and Iran are neighbors with cordial relations but have for years also accused each other of not doing enough to stamp out militants allegedly sheltering along their lengthy shared border plagued by unrest due to drug smuggling gangs, and separatist and religious militants.
The agreements between the two sides took place shortly after Pakistan's Foreign Minister Bhutto-Zardari held a joint press stakeout with his Iranian counterpart, Dr. Hossain Amir Abdollahian. The Iranian envoy is in Islamabad on a three-day visit. Delegations led by the foreign ministers of both countries held a meeting and signed three agreements to promote bilateral economic and trade relations.
“The five-year (2023-2028) trade cooperation plan between Pakistan and Iran, which inter-ally sets a bilateral trade target of $5 billion, prioritizes removing impediments on bilateral trade, the finalization of the Free Trade Agreement and the establishment of institutional linkages between our respective private sectors,” Bhutto-Zardari said during the joint press briefing.
The Pakistani foreign minister said both sides discussed Pakistani and Irani prisoners and fishermen languishing in each other's jails.
“We have decided to repatriate all sentenced prisoners in respective jails as per provisions of existing agreements between the two sides and also decided to release all fishermen in custody in Pakistan and in Iran," Bhutto-Zardari said. He added that Pakistan and Iran had also decided to waive any fines imposed by authorities on the fishermen.
He said Pakistan and Iran would exchange a list of prisoners to implement the agreement expeditiously.
The Pakistani and Iranian delegations signed bilateral economic consultations encompassing rich and in-depth sectoral discussions held between the two sides on Wednesday, Bhutto-Zardari said.
“I am confident that the steps we are taking today will chart the course for a long-term, durable economic partnership between our two countries in the months and years ahead,” he added.
During the discussion, the Pakistani foreign minister said the delegations reviewed regional developments and greater regional integration based on enhanced trade and connectivity.
“To this end, we have agreed to prioritize operationalization of the five remaining border markets by the end of this year,” he said, adding that both countries also reaffirmed their commitment to sharing their border in peace and friendship.
The Iranian foreign minister stressed the importance of completing the Iran-Pakistan (IP) gas pipeline, saying it would serve the national interests of the two countries.
“We held very important discussions with each other on the IP gas pipeline projects between the two sides and we are ready to see this gas pipeline completed, finalized, and operationalized as soon as possible,” Abdollahian said.
“Important talks were also held on how we can find solutions to some existing banking and financial problems between the two countries within the framework of international rules and regulations,” the Iranian foreign minister added.
Abdollahian said Pakistan and Iran need to "activate more formats of cooperation" between each other in the sectors of economy, and trade and to combat militancy and drug smuggling.
On Afghanistan, the Iranian foreign minister said the solution to various ills facing the country lies within the framework of regional initiatives.