ISLAMABAD (APP) - Pakistan-Iran Joint Economic Commission (JEC) concluded with signing of key Protocols, both sides reaffirmed to achieve a US$10 billion trade target.
The 22nd Session of the JEC concluded successfully in Tehran, Iran, said a release issued here on Tuesday.
The milestone session marked a significant step forward in strengthening economic, commercial, and cultural ties between Pakistan and Iran, underscoring a shared commitment to mutual prosperity and enhanced bilateral cooperation.
The Pakistani delegation was led by Federal Minister for Commerce Jam Kamal Khan and the Iranian delegation was headed by Minister for Roads Urban Development, Farzaneh Sadeq.
The session reviewed bilateral relations and agreed upon a strong framework for future cooperation. Emphasis was placed on expanding collaboration across various sectors, including trade, investment, energy, agriculture, transport, housing, health, education, and cultural exchanges. At the conclusion of the session, both ministers signed the relevant protocols on behalf of their respective governments.
The technical sessions of the JEC were led by Muhammad Humair Karim, Secretary, Ministry of Economic Affairs of Pakistan, and Dr. Amin Taraffo, Senior Advisor to the Iranian Minister of Roads and Urban Development and Head of International Affairs. Both sides, supported by their respective technical teams, held extensive discussions across multiple areas and successfully finalized the draft Protocol.
Key outcomes of the 22nd JEC session include a reaffirmed commitment to achieving a bilateral trade target of $10 billion, as envisioned by the leadership of both nations. In trade and investment, both sides emphasized the removal of tariff and non-tariff barriers, operationalizing border markets and promotion of regular Business to Business meetings to enhance commercial ties.
In energy and infrastructure, consensus were made to enhance electricity exchanges, including resuming construction of a 220 KV transmission line to Gwadar and exploring renewable energy projects.
A Joint Working Group will promote investment in the power sector, while cooperation in water resource management and sustainable urban development was also prioritized. In agriculture and environment, both sides committed to implementing agreements on veterinary health, combating pests, and collaborating on agricultural seeds and equipment, alongside joint strategies to address climate challenges like sand and duststorms and mangrove conservation.
Transportation and connectivity were key focus areas, with agreements to strengthen road, rail, air, and maritime transport links. This includes increasing rail cargo volumes, enhancing air navigation services, and exploring ferry services for passengers, including Zaireen, between seaports. Cultural and educational ties were bolstered through plans for cultural festivals, media collaborations, academic partnerships, student exchanges, and vocational training programs.
Health sector collaboration was advanced with agreements on joint training, pharmaceutical registration, and cross-border disease surveillance.