Pakistan, Iraq eye increased trade, religious tourism through ferry service agreement

Pakistan Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry (2L) gestures during a meeting with Iraq’s Deputy Head of Mission Abdulqadir Sulyman Alhimiri (3R) in Islamabad on August 6, 2025. (Handout/Ministry)
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Updated 07 August 2025
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Pakistan, Iraq eye increased trade, religious tourism through ferry service agreement

  • Pakistan signs a memorandum of understanding with Iraq for ferry service between Umm Qasr, Gwadar port cities
  • Minister proposes expanding goods trade by increasing Pakistani exports of medicines, meat and oil imports from Iraq

KARACHI: Pakistan and Iraq have agreed to strengthen their maritime cooperation by exploring new sea routes after signing a memorandum of understanding (MoU) to launch a ferry service between the port cities of Umm Qasr and Gwadar, Pakistan’s maritime affairs ministry said this week.

Islamabad this week granted its first-ever ferry service license to an international operator, Sea Keepers, for routes connecting Pakistan with Iran and Gulf Cooperation Council (GCC) countries. Pakistan’s Maritime Affairs Minister Junaid Anwar Chaudhry said the move would boost regional connectivity, religious tourism and economic activity via sea routes.

The agreement to launch the ferry service between Umm Qasr and Gwadar was reached in a meeting between Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry, and a three-member delegation from the Iraqi Embassy in Islamabad, led by its deputy head of mission, Abdulqadir Sulyman Alhimiri.

“Welcoming the initiative, Minister Junaid Anwar Chaudhry described it as ‘a new chapter’ in bilateral relations, emphasizing that maritime passenger and cargo links could build on expanding economic ties and religious travel between the two countries,” Pakistan’s maritime affairs ministry said in a statement on Wednesday.

Chaudhry highlighted that Islamabad can meet Baghdad’s potassium sulphate needs through the ferry service, noting that a manufacturing facility is present in the southwestern Gwadar Free Zone.

“The ferry connection can leverage our shared cultural and religious bonds while unlocking new business opportunities,” the minister said.

He underscored the potential for increased port activity and expansion of the supply chain under Pakistan’s blue economy strategy.

The ministry said last year, over 88,000 Pakistani pilgrims visited Iraq to observe the Ashura religious occasion.

Chaudhry informed the Iraqi delegation that Pakistan was also working to set up ferry routes with Iran and GCC countries.

He said similar arrangements with Iraq could complement these plans, fostering a regional maritime network that meets both economic and strategic goals.

“The minister proposed expanding goods trade by boosting Pakistani exports of medicines, meat and rice to Iraq while increasing Iraqi oil imports into Pakistan, which could help elevate bilateral trade well beyond current levels,” the ministry said.

Alhimiri expressed “strong support” for the minister’s proposals, calling the maritime sector a “key enabler” for future collaboration, the Pakistani ministry said.

Chaudhry said the proposed ferry link would serve as a vital corridor to access broader Asian markets for Iraq, reduce transportation costs, improve logistics, and significantly boost bilateral trade between the two countries.


JazzCash signs deal with Binance in UAE to explore regulated crypto adoption in Pakistan

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JazzCash signs deal with Binance in UAE to explore regulated crypto adoption in Pakistan

  • MoU focuses on awareness and development of compliant virtual-asset solutions in Pakistan
  • Pakistan introducing licensing regime for crypto firms as it formalizes digital-asset oversight

ISLAMABAD: Pakistani financial-technology platform JazzCash has signed a memorandum of understanding with global cryptocurrency exchange Binance in the United Arab Emirates to explore cooperation on virtual-asset use and education in Pakistan, the company said on Wednesday.

The agreement sets a framework for discussions on awareness campaigns and future digital-asset products that would comply with Pakistan’s emerging crypto regulations. The move signals growing engagement between global blockchain companies and Pakistani fintechs as authorities shift toward formal licensing of the sector.

Pakistan has spent the past year drafting rules to regulate the fast-expanding market for digital coins and tokens, requiring virtual-asset service providers to obtain government approval. Officials say the transition is aimed at curbing money-laundering and terror financing risks, boosting transparency and encouraging responsible innovation.

“JazzCash has always championed technologies that expand financial access while promoting secure and inclusive participation in the digital economy," JazzCash Chief Executive Officer Murtaza Ali said. 

“By entering into this exploratory MoU with Binance, we are advancing our efforts to understand how global digital-asset trends can support Pakistan’s evolving regulatory landscape. We aim to engage responsibly, support regulatory progress, and advance opportunities that build trust, transparency and innovation for our customers.”

The MoU does not establish a commercial partnership, but marks one of the most high-profile engagements between Pakistan’s fintech sector and a global crypto exchange as the country moves toward regulated digital-asset adoption.

Binance welcomed the cooperation, framing it as part of Pakistan’s shift toward regulated digital-asset activity.

"With regulatory frameworks like [Pakistan Virtual Assets Regulatory Authority] PVARA paving the way, this collaboration represents a significant step toward expanding financial inclusion and empowering more people to access the benefits of blockchain technology in a secure and compliant environment," Binance Chief Marketing Officer Rachel Conlan said.

Earlier this month, Binance executives met Pakistani finance officials to discuss digital-payments reform, blockchain-skills training and the potential for Web3-linked jobs. Pakistan also set up the Pakistan Crypto Council and formed PVARA this year to license and supervise crypto-asset service providers.