Iran-Pakistan Trade Opportunities Discussed

TEHRAN (Iran News) In the event held at Tehran’s International Permanent Fairground, Mohammad Ali Dehghan Dehnavi, Head of the TPO, underscored Iran’s commitment to enhancing trade relations with Pakistan. He highlighted the close ties between the two nations but acknowledged that economic cooperation has yet to reach its full potential.

“Strengthening trade with Pakistan, as a neighboring and economic partner, is a priority for us,” Dehnavi stated. “However, we need to address existing barriers through mutual engagement to realize this goal.”

He added that the Ministry of Industry, Mine, and Trade (MIMT), particularly the TPO, is keen on expanding bilateral trade. This includes not only increasing Iranian exports to Pakistan but also meeting part of Iran’s domestic needs through imports from Pakistan. “Economic and trade connections can thrive under such mutual cooperation,” he said.

Dehnavi described the ongoing negotiations on a trade agreement between the two countries as a vital platform for advancing these objectives. Expressing full support for Iranian producers and traders interested in operating in Pakistan, he emphasized the need to actively explore trade opportunities and identify goods that can serve as a foundation for strengthening bilateral ties.

Highlighting exhibitions as a crucial tool for trade promotion, Dehnavi mentioned a successful Iranian exhibition focused on petrochemical and oil-related industries held in Pakistan. “We hope this year’s edition will also be impactful, providing an excellent platform to identify export opportunities,” he remarked.

The TPO, he assured, will continue to support Iranian businesses and economic stakeholders seeking to expand their trade relations in Pakistan. He stressed the importance of accompanying exhibitions with effective business-to-business (B2B) meetings to maximize their impact. “Before participating in exhibitions, a comprehensive list of Iranian and Pakistani companies should be exchanged between trade delegations,” Dehnavi noted. The TPO, he said, is committed to assisting exhibition organizers in achieving this goal.

This meeting, attended by Pakistani Commercial Counselor Amer Hussain and representatives from the public and private sectors, reflects the growing focus on fostering economic collaboration between the two nations.

Meanwhile the Trade and Investment Counselor of Pakistan in Iran emphasized the expanding trade relations between the two nations during a meeting on export opportunities in the oil, gas, petrochemical, polymer, and plastics sectors. He announced that trade between Iran and Pakistan has doubled over the past three years and expressed hopes of increasing this figure to $10 billion by 2030.

Amir Hussain made these remarks at the meeting. Highlighting the vast potential for bilateral cooperation, he noted opportunities in energy and other sectors.

Referring to the 900-kilometer shared border and joint coastal areas between Iran and Pakistan, Hussain stated that many economic players in both countries are unaware of the broad opportunities available. While Iranians primarily recognize Pakistan for its rice production, the counselor pointed out that Pakistan is also active in pharmaceuticals, textiles, leather, and other industries.

He attributed this lack of awareness to inadequate follow-up on trade negotiations between the two nations. Hussain stressed the importance of trade events to create better opportunities for dialogue and collaboration.

Hussain highlighted that marketing has been a neglected aspect of Iran-Pakistan trade relations, leading to the underrepresentation of Pakistani products in the Iranian market. He expressed optimism that these challenges would soon be resolved.

Concluding his remarks, Hussain expressed hope for upcoming Pakistani exhibitions in Iran showcasing sectors like textiles, leather, and pharmaceuticals. He reiterated the satisfaction with the recent growth in trade relations and underscored Pakistan’s commitment to reaching the ambitious $10 billion trade target by 2030. Specialized trade events in both countries, he added, will play a vital role in achieving this goal.

In the meeting, Deputy of the Trade Development Organization Mohammad Sadeq Qanadzadeh highlighted strategic plans to expand trade ties between Iran and Pakistan, stating:

“A roadmap to enhance trade exchanges between the two countries has been signed. Our initial target is to achieve $5 billion in trade exchanges, with a long-term goal of reaching $10 billion.”

Qanadzadeh emphasized Iran’s competitive edge in the petrochemical sector, describing it as one of the country’s significant export advantages. He noted:

“Pakistan is among the countries where we actively participate in international events. To strengthen our presence, we are planning exclusive exhibitions there to showcase Iran’s economic capabilities to our neighboring country.”

He added: “Currently, there is a strong intent to develop trade relations between Iran and Pakistan. However, Iran’s share of Pakistan’s petrochemical market is small. Pakistan imports over $13 billion worth of petrochemical products annually, but Iran’s share is approximately $700 million. Through this event, we aim to increase Iran’s market share and comprehensively demonstrate our capabilities in this sector.”

Qanadzadeh stated that Iran is working on innovative approaches to establish a foothold in Pakistan’s oil, gas, and petrochemical markets. He explained:

“We aim to organize a specialized event in Pakistan, going beyond a traditional exhibition. This comprehensive event package for the petrochemical sector has been fully designed.”

As part of the initiative, exclusive visits for Iranian companies in Pakistan and B2B meetings have been planned to facilitate trade agreements and initiate commercial exchanges.

The Deputy of the Trade Development Organization announced the start of the fifth round of negotiations for a free trade agreement between Iran and Pakistan, adding:

“This development will enhance our trade capacities with Pakistan.”