Pakistan, Iran agree to increase bilateral trade to $10 billion, sign eight MoUs

1 / 2
Pakistan Prime Minister Shehbaz Sharif and Iranian President Ebrahim Raisi witness signing of MoUs of cooperation in different fields between the two countries in Islamabad, Pakistan, on April 22, 2023. (Government of Pakistan)
2 / 2
In this photo released by Prime Minister Office, Iranian President Ebrahim Raisi, left, walks with Pakistan's Prime Minister Shehbaz Sharif during a welcome ceremony in the prime minister house in Islamabad, Pakistan, on April 22, 2024. (AP)
Short Url
Updated 22 April 2024
Follow

Pakistan, Iran agree to increase bilateral trade to $10 billion, sign eight MoUs

  • The signed agreements were related to the fields of trade, science and technology, agriculture, health, culture, and judicial matters
  • Ebrahim Raisi met Pakistan PM, president and army chief amid efforts by both neighbors to mend ties after this year’s tit-for-tat strikes

ISLAMABAD: Iranian President Ebrahim Raisi said on Monday Islamabad and Tehran had committed to strengthening bilateral relations across political, economic, trade, and cultural domains through the signing of eight accords and memorandums of agreement.

Raisi arrived in Islamabad on Monday on a three-day visit as the two Muslim neighbors seek to mend ties after unprecedented tit-for-tat military strikes this year. He is accompanied by his spouse and a high-level delegation of cabinet members and businesspersons.

The Iranian president was presented with a guard of honor by a Pakistan army contingent upon his arrival at the Prime Minister’s House. He subsequently held meetings with Foreign Minister Ishaq Dar and Prime Minister Shehbaz Sharif.

The MoUs and agreements cover different fields including trade, science technology, agriculture, health, culture, and judicial matters. They include an MoU on the establishment of the Rimdan-Gabd Joint Free/Special Zone; on cooperation between the Ministry of Cooperative Labour and Social Welfare of Iran and the Ministry of Overseas Pakistani and Human Resources Development of Pakistan; on judicial assistance and legal cooperation at the ministry levels; on cooperation for animal hygiene and health; on mutual recognition in the field of quarantine and phytosanitary; and on the promotion of culture and films.

The signing ceremony also marked the ratification of a security cooperation agreement between the governments of two countries.

“Today in our meeting with [Pakistani] prime minister, and other members of the respective cabinet, we decided to promote the bilateral relations between the two countries at political, economic, trade, culture, including others, at all levels as far as possible,” Raisi said at a joint press stakeout with Pakistani premier Sharif.

The Iranian President said both countries were committed to combating terrorism, organized crime, narcotics, and various forms of insecurity that threatened not only the neighbors but the wider region.

“There are a number of common positions and stance between our two countries when it comes, for instance, to fighting against terrorism,” he said, adding that Iran and Pakistan shared a lengthy common border, which presented an opportunity to create and bring about welfare for the people residing in border areas and regions.

“The economic and trade volume between Iran and Pakistan is not acceptable at all and we have decided at the first step to increase the trade volume between our two countries to $10 billion,” Raisi added.

Speaking at the press conference, Sharif said both countries collectively needed to work to strengthen bilateral relations, transforming their shared border into a “beacon of development and prosperity.”

“Today presents an opportunity to forge our friendship into a catalyst for progress and prosperity and the decisions made today regarding economic progress and connectivity will yield visible results,” the PM said.

He also commended the “resolute stance” taken by the Iranian nation against Israeli actions in Gaza, where 35,000 people have been killed in Israeli air and ground offensives since Oct. 7. Sharif called on Iran and Pakistan to unite at the OIC and other international forums alongside fellow Islamic nations to push for a complete ceasefire.

Later, the Iranian president met with his Pakistani counterpart, Asif Ali Zardari, at the Presidency in Islamabad, where the two leaders expressed deep commitment to the longstanding Pakistan-Iran relations. 

“They emphasized the need for further deepening and broadening of bilateral relations in diverse fields and for enhancing high-level dialogue and mutually beneficial cooperation,” the Pakistan presidency said in a statement.

In a meeting with Pakistan Army Chief General Asim Munir, both sides concurred on the necessity to bolster bilateral cooperation while jointly striving for regional stability and economic prosperity, according to the Pakistani military. The discussions primarily focused on matters of mutual interest, notably regional peace, stability, and border security.

“COAS (chief of army staff) described the Pak-Iran border as ‘the border of peace and friendship,’ emphasizing the need for improved coordination along the border to prevent terrorists from jeopardizing the longstanding brotherly relations between the two neighboring countries,” the Inter-Services Public Relations (ISPR), the military’s media wing, said in a statement.

“President Ebrahim Raisi emphasized that by fostering cooperation between the two Armed Forces, Pakistan and Iran can attain peace and stability for both nations and the region.”

Raisi also met Yusuf Raza Gillani, chairman of the Senate of Pakistan, and National Assembly Speaker Ayaz Sadiq.

“OFTEN AT ODDS”

During his visit from April 22-24, the Iranian head of state is also scheduled to meet the Pakistani president, Senate chairman and National Assembly speaker. He will also visit the cities of Karachi and Lahore to meet the country’s provincial leadership.

Raisi’s visit is the first by any head of state to Pakistan after the South Asian nation’s contentious elections of February 2024 and the formation of a new government headed by Sharif. The visit also comes as tensions are high in the Middle East after Iran launched airstrikes on Israel a week ago and Israel retaliated with its own attack on Friday.

Pakistan and Iran have had a history of rocky relations despite a number of commercial pacts, with Islamabad being historically closer to Saudi Arabia and the United States.

Their highest profile agreement is a stalled gas supply deal signed in 2010 to build a pipeline from Iran’s South Fars gas field to Pakistan’s southern provinces of Balochistan and Sindh.

Pakistan and Iran are also often at odds over instability on their shared porous border, with both countries routinely trading blame for not rooting out militancy.

Tensions surged in January when Pakistan and Iran exchanged airstrikes, both claiming to target alleged militant hideouts in each other’s countries. Both sides have since then undertaken peace overtures and restored bilateral ties.

Former diplomat Naghmana Hashmi said the Iranian President’s visit with a large delegation indicated that both countries had put aside “all sources of irritation,” particularly the recent border skirmishes.

“He is also visiting the commercial centers like Lahore and Karachi, which absolutely is a very clear signal that we want to take the economic relationship that the two countries have, to greater heights, and to increase the flow of trade, to encourage the barter trade and the border markets that we have recently established,” she told Arab News.

Hashmi added that both countries were important forces for peace and security in the region.

“At the time when Iran’s tension with the Israel is at its peak, for the president of Iran to come to Pakistan shows his confidence, both as a leader and as a nation, on us being a good neighbor and they consider Pakistan as their great friend,” she added.

Former Pakistani ambassador to Iran, Riffat Masood, said Raisi’s visit was important in the backdrop of recent hostilities between Israel and Iran.

“And, of course, when the leadership of the two countries meet, they will definitely discuss the way forward in trying to bring an end to or at least reduce the hostilities,” she told Arab News.

She said Raisi’s visit would also further enhance security and economic cooperation between Pakistan and Iran.

“The recent border issues are not expected to have a significant impact,” Masood said, “as both countries swiftly addressed them before any negative consequences could affect bilateral relations.”


PM Sharif forms committee to address Pakistani wheat farmers’ grievances 

Updated 7 sec ago
Follow

PM Sharif forms committee to address Pakistani wheat farmers’ grievances 

  • Farmers are demanding government stop wheat imports that have flooded markets, leading to reduced prices
  • Government committee to take measures to address farmers’ complaints within four days, says state media 

ISLAMABAD: Prime Minister Shehbaz Sharif this week formed a government committee to address the ongoing wheat crisis in the country, state-run media said, amid protests by thousands of farmers who say they are facing difficulties in selling and buying the food grain in Pakistan.

Farmers in Pakistan’s most prosperous Punjab province are demanding the government stop wheat imports that have flooded the market at a time when they expect bumper crops. The import of wheat in the second half of 2023 and the first three months of 2024 has resulted in excess amounts of the commodity leading to reduced prices, they say. 

“Prime Minister Shehbaz Sharif on Saturday taking notice of the issues faced by the farmers in selling their wheat and obtaining wheat bags, formed a committee under Ministry of National Food Security and Research to address their grievances,” the state-run Associated Press of Pakistan (APP) reported. 

Sharif issued the directives to form the committee during a high-level meeting he chaired on Saturday to review wheat procurement matters through the Pakistan Agricultural Storage and Services Corporation (PASSCO). The meeting was attended by federal ministers Rana Tanveer Hussain, Attaullah Tarar, and other officials.

The committee would take measures to address farmers’ concerns within four days, APP said, adding that Sharif expressed concerns over reports of farmers facing difficulties in buying wheat at “fair” prices and tasked authorities to resolve the issue immediately. 

“The federal government, through PASSCO, is procuring 1.8 million metric tons of wheat to ensure maximum benefit to farmers,” the APP quoted Sharif as saying. 

“The prime minister emphasized that the government will not compromise on the economic protection of farmers and will take all necessary steps to ensure their well-being.”

Agriculture is the backbone of Pakistan’s economy and constitutes its largest sector. The majority of Pakistan’s population, directly or indirectly, depends on agriculture for their income. 

According to the Pakistan Bureau of Statistics (PBS), agriculture contributes about 24 percent of the Gross Domestic Product (GDP) and accounts for half of the employed labor force in the country. 
 


Pakistan face Korea in Azlan Shah field hockey tournament today

Updated 38 min 7 sec ago
Follow

Pakistan face Korea in Azlan Shah field hockey tournament today

  • Pakistan began tournament on winning note after beating Malaysia 5-4 on Saturday
  • The 30th edition of the prestigious tournament is being played in Malaysia’s Ipoh city

ISLAMABAD: Pakistan will face Korea in the Sultan Azlan Shah field hockey cup today, Sunday, after beginning the tournament on a winning note a day earlier by beating hosts Malaysia, state-run media reported. 

The 30th edition of the prestigious field hockey tournament is being played in Ipoh, Malaysia from 4-11 May. The cup will be contested between six teams, namely Canada, Japan, Malaysia, New Zealand, Pakistan and Korea.

Pakistan’s national hockey team made a triumphant start to the tournament on Saturday, defeating hosts Malaysia by 5-4 in a thrilling match.

“The Pakistan hockey team would face Korea in their second match on Sunday (May 5),” state-run media Associated Press of Pakistan (APP) reported. 

Pakistan have the upper hand against Korea as far as the head-to-head record is concerned. The South Asian country has won 14 matches in total against Korea while the latter has won eight. Both teams have drawn with each other six times. 

Pakistan’s hockey team came from behind on Saturday to down Malaysia 5-4 to win the contest. Sufiyan Khan, Pakistan’s drag flicker, scored a hat-trick while Zakriya Hayat and Abu Bakar Mahmood contributed one goal each to the team’s victory.

The Sultan Azlan Shah Cup 2024 will see a round-robin stage at first where all six teams will play each other once, followed by positional playoffs. 

The teams finishing in the bottom two places of the league stage will contest in a fifth-place classification match. Teams finishing in third and fourth place in the pool stage will compete for bronze, while the top two teams will play in the final for the title. 

The match is scheduled to begin at 3:15 p.m. Pakistan Standard Time (PST).


Saudi business delegation to arrive in Pakistan today to explore investment opportunities 

Updated 05 May 2024
Follow

Saudi business delegation to arrive in Pakistan today to explore investment opportunities 

  • Saudi deputy investment minister, representatives of 30-35 Saudi companies part of delegation, says Pakistani minister
  • Saudi Arabia recently reaffirmed its commitment to expedite investment package for Pakistan worth $5 billion

ISLAMABAD: A high-level Saudi business delegation led by the Kingdom’s deputy investment minister will arrive in Pakistan today, Sunday, to explore investment opportunities in various economic sectors, Federal Minister for Petroleum Musadik Malik confirmed a day earlier. 

Pakistan and Saudi Arabia, who enjoy fraternal ties rooted deep in shared culture, religion and economic cooperation, have witnessed a flurry of official visits in recent weeks. Saudi Foreign Minister Prince Faisal bin Farhan traveled to Islamabad earlier in April before Prime Minister Shehbaz Sharif’s two-day visit to the Kingdom to attend a World Economic Forum meeting where he met Saudi officials. 

“The Saudi Deputy Investment Minister is visiting Pakistan tomorrow,” Malik, who is also the focal person for Saudi-Pak bilateral collaboration, told reporters at a news conference in Lahore on Saturday. 

“He is bringing representatives from 30 to 35 companies whose CEOs are coming here.”

The Pakistani minister maintained his country had always cherished cordial ties with the Kingdom, though it had not managed to turn this “relationship of friendship into a relationship of stability and progress.”

He said Pakistan mostly discussed its financial concerns with the Saudi authorities and requested their support. However, the present government wanted to change that by focusing its bilateral conversations on mutually beneficial progress and development, not aid and assistance.

The minister said the two sides discussed a new refinery project during the recent engagements that would be used for export purposes to earn foreign revenue. Additionally, food security was also discussed to further strengthen Pakistan’s agricultural sector.

He informed that Prime Minister Sharif wanted the country’s “private sector to take the lead on this path to progress.”

“That is why Saudi investors have been invited to come here,” he continued. “They will sit with Pakistani companies and figure out ways to connect the Pakistani talent with the capital and investment needed at the international level for the IT revolution.”

Malik said the bilateral collaboration would primarily benefit small businesses, particularly the technology companies established by young students who were likely to get a significant amount of investment from Saudi entrepreneurs.

He expressed optimism that chemical, energy and agricultural companies would also gain an advantage from the ongoing bilateral collaboration between the two sides.

Apart from Pakistan and Saudi Arabia’s fraternal ties, the Kingdom is particularly important to Islamabad as it is home to over 2.7 million Pakistani expatriates and serves as the top source of remittances to the cash-strapped South Asian country.

Both Pakistan and Saudi Arabia have been closely working to increase bilateral trade and investment deals, and the Kingdom recently reaffirmed its commitment to expedite an investment package worth $5 billion.


Pakistan urges Hajj pilgrims to get vaccinated five days before departure to Saudi Arabia

Updated 05 May 2024
Follow

Pakistan urges Hajj pilgrims to get vaccinated five days before departure to Saudi Arabia

  • Pakistani pilgrims require to vaccinate themselves against meningitis, seasonal influenza and polio
  • The vaccinations are done at Hajji camps during the day in all major cities around the country

ISLAMABAD: Pakistan’s religious affairs ministry on Saturday asked Hajj pilgrims to get themselves vaccinated at least five days before departure to Saudi Arabia to avoid inconvenience.
Hajj pilgrims must comply with strict vaccination requirements set by the Saudi Ministry of Health to ensure public safety during one of the world’s largest annual gatherings.
Mandatory vaccines include the meningitis shot, with additional recommendations for the seasonal influenza vaccine, while travelers from regions prone to yellow fever and polio must also provide corresponding immunization certificates.
These precautions are vital to prevent the spread of infectious diseases among millions of pilgrims converging in the kingdom from across the globe.
“The intending pilgrims are advised to visit their respective Hajji camps five days (from 9 am to 5 pm) before their flight to receive vaccination against meningitis, seasonal influenza and polio, besides obtaining a yellow card,” the state-owned Associated Press of Pakistan (APP) news agency quoted a statement issued by the ministry.
“This is a mandatory requirement,” it added.
Hajj is one of the Five Pillars of Islam, which include the core beliefs and practices every Muslim is expected to follow.
The pilgrimage is required to be performed at least once in a lifetime by all adult Muslims who meet the necessary conditions of health and financial stability to travel to and perform the rituals in Makkah.
Pakistan plans to launch the special Hajj flight operation from May 9 that will continue until June 10.


Security forces kill six militants in northwest Pakistan

Updated 04 May 2024
Follow

Security forces kill six militants in northwest Pakistan

  • The intelligence-based operation was carried out in North Waziristan that led to an intense exchange of fire
  • The targeted militants were involved in violent attacks against security forces and civilians in the volatile area

ISLAMABAD: Pakistani security forces carried out an intelligence-based operation in North Waziristan tribal district in the early hours of Saturday, killing six militants after a heavy exchange of fire.
Located in the tribal belt along the Pakistan-Afghanistan border, North Waziristan has historically been known as a volatile region with significant militant activity.
The Pakistani military carried out several major operations in the area to dismantle militant networks and had success in reducing violence.
However, there have been reports of renewed militant activities in the region, prompting the Pakistani security forces to once again increase its focus on these challenges.
“On night 3/4 May 2024, security forces conducted an intelligence based operation in North Waziristan District, on reported presence of terrorists,” the military’s media wing, ISPR, said in a statement.
“During the conduct of operation, intense fire exchange took place between own troops and the terrorists,” it continued, adding that six militants were killed as a result.
The statement informed that the security forces also destroyed militant hideout during the operation and launched a “sanitization operation” in the area while trying to locate any remnants of the militant group.
“The killed terrorists remained actively involved in numerous terrorist activities against security forces as well as target killings of innocent civilians in the area,” the ISPR added.