Tehran – Iran and Pakistan have set a target of increasing bilateral trade to $10 billion over the next three to five years, as both countries seek to deepen economic cooperation beyond traditional commerce.

 

The goal was announced by Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), during a meeting with an economic delegation from Iran's Markazi Province.

 

He called for stronger industrial partnerships, joint ventures, and greater investment to unlock the full potential of bilateral ties.

 

Current trade between the two neighbors stands at approximately $2.8 billion, comprising $684 million in Pakistani exports to Iran and $2.1 billion in imports from Iran.

 

Business leaders identified limited banking channels, cumbersome trade procedures, and inadequate transport infrastructure as the principal barriers to expanding trade.

 

The two sides explored cooperation in heavy machinery, automotive parts, agricultural technology, mining, petrochemicals, food processing, household appliances, and renewable energy. The FPCCI reaffirmed its support for joint industrial projects, technology transfer, and increased private-sector investment to help achieve the ambitious trade target.