ISLAMABAD: The foreign ministers of Iran and Pakistan vowed on Sunday to strengthen bilateral cooperation in trade, connectivity, various other sectors and work for regional peace, the Pakistani foreign ministry said in a statement.
Pakistan and Iran have attempted to enhance bilateral trade and commerce in recent years. The two neighbors have set up border markets and discussed barter trade to get around banking and currency restrictions.
Sanctions and foreign exchange shortages remain key hurdles for Iran, making barter systems and cross-border markets central to its trade strategy with Pakistan.
Deputy Prime Minister Ishaq Dar, who also serves as Pakistan’s foreign minister, spoke to Iran’s Foreign Minister Seyyed Abbas Araghchi over the phone on Sunday during which the two discussed regional developments.
“Both leaders reaffirmed their commitment to further strengthening cooperation in trade, connectivity and people-to-people ties, and reiterated their resolve to work closely together for regional peace and development,” the Pakistani foreign office said in a statement.
Pakistan and Iran have attempted to enhance bilateral trade to $10 billion. However, apart from sanctions and foreign exchange shortages, ties between the two countries remain complicated due to security issues.
Pakistan and Iran have remained at odds over instability along their shared, porous border that even led to a missile exchange between them in 2024. Both countries, however, were quick to move to ease tensions.
Iranian President Dr. Masoud Pezeshkian visited Pakistan in August this year, during which the two countries signed agreements to enhance bilateral trade to $10 billion by 2028.
Both countries have also consistently criticized Israel for its war on Gaza and repeated violations of a fragile ceasefire brokered by world powers, including the US.
