Iran and Pakistan reaffirm their $10 billion bilateral trade target

The trade ministers of Iran and Pakistan reaffirmed their commitment to strengthening economic relations and to reaching a shared target of $10 billion in bilateral trade at the 10th Pakistan Iran Joint Trade Committee meeting in Islamabad on Tuesday, 4 August 2026 (13 Mordad 1405). According to a statement from Pakistan's Trade and Commerce Ministry, the meeting was co chaired by Pakistan's Commerce Minister Jam Kamal Khan and Iran's Minister for Industry, Mine and Trade Mohammad Atabak.

Jam Kamal Khan said reaching the $10 billion target requires sustained collaboration, stronger institutional linkages and greater engagement between the public and private sectors. He listed opportunities in trade, industry, manufacturing, energy, agriculture, minerals, pharmaceuticals, textiles, automotive, sports goods and surgical instruments, and stressed the need to expedite negotiations on the Pakistan Iran Free Trade Agreement, promote investment and encourage joint ventures.

Mohammad Atabak reaffirmed Iran's commitment to a long term economic partnership with Pakistan, highlighting the importance of expanding trade, investment, regional connectivity, industrial cooperation, border markets and private sector engagement. The two sides agreed to further strengthen institutional cooperation and accelerate implementation of agreed initiatives on trade, transit and economic cooperation. Border trade with Pakistan is one of Iran's non oil foreign currency earning channels.