Islamabad, Aug. 6 -- Pakistan and Iran have reaffirmed their commitment to raising bilateral trade to USD 10 billion annually after signing a memorandum of understanding (MoU) and agreeing to accelerate negotiations on a free trade agreement (FTA).

The understanding was reached at the conclusion of the 10th Pakistan-Iran Joint Trade Committee (JTC) meeting in Islamabad on Wednesday, August 5. The session was co-chaired by Pakistan's Commerce Minister Jam Kamal Khan and Iran's Minister of Industry, Mine and Trade Mohammad Atabak.

The MoU outlines measures to strengthen economic cooperation through expanded border trade, improved customs coordination, greater maritime connectivity, joint free trade zones and barter trade, while advancing ...