Ways to further bolster Pakistan, Iran trade discussed

Muhammad Mudassir Tipu, Pakistan's ambassador to Iran, on Monday discussed the challenges and opportunities to enhance bilateral trade between Tehran and Islamabad.

"[I] Had excellent zoom meeting with Quetta Chamber to tap huge potential of [Pakistan-Iran] trade," he wrote on his official X handle. 

The envoy said he discussed challenges and opportunities to expand bilateral trade between the two countries.

"Our business community has amazing entrepreneurial skills & we will fully support it in bilateral economic growth," he added.

Despite the recent tensions, Pakistan’s imports from Iran have increased significantly.

In January, Pakistan’s imports from Iran increased on an annual and monthly basis. Imports from Iran rose 25% year-on-year in January, according to The News.

Imports from Iran increased by 17% from July to January this year. In January 2024, the volume of imports from Iran was $10.42 million. Imports from Iran in December 2023 were $89.2 million.

Imports from Iran in January 2023 were $83.2 million and from July to January this year were $591.4 million. The volume of imports from Iran from July to January last year was $505 million.

Pakistan and Iran recently formulated a 5-year plan to increase trade cooperation. The two countries had agreed to increase bilateral trade to $5 billion by 2028.