Federal Minister for Investment, Mr. Qaiser Ahmed Sheikh, held a comprehensive meeting with the Ambassador of the Islamic Republic of Iran to Pakistan, Mr. Reza Amiri Moghadam, to further strengthen bilateral economic cooperation and address key issues related to trade, investment, and regional connectivity.
The Federal Minister warmly welcomed Ambassador Reza Amiri Moghadam, who expressed gratitude for the Minister’s time and engagement. Both sides acknowledged and appreciated the leadership and diplomatic efforts of Prime Minister Muhammad Shehbaz Sharif and Field Marshal Syed Asim Munir in promoting regional peace and stability during recent challenging circumstances. The Minister also congratulated the Iranian leadership on the successful conclusion of the recent conflict, while the Ambassador appreciated Pakistan’s constructive role and continued support.
The discussions focused on enhancing economic relations in light of the already signed Memorandum of Understanding (MoU) between Pakistan and Iran for the establishment of Joint Free/Special Economic Zones (SEZs) along their shared border. The MoU, signed between Pakistan’s Board of Investment and Iran’s Supreme Council of Free Trade, Industrial and Special Economic Zones, forms part of a broader framework aimed at significantly increasing bilateral trade and economic integration.
Both sides reaffirmed their commitment to achieving the agreed bilateral trade target of USD 10 billion in the coming years. It was noted that the SEZ initiative, particularly around the Rimdan–Gabd border region, along with previously agreed border markets, will play a pivotal role in improving livelihoods in border areas and boosting cross-border commerce.
During the meeting, detailed discussions were held on the operationalization of the SEZ. The Iranian side emphasized the need for a joint visit to finalize and notify the boundaries of the economic zone. While Iran has already completed demarcation on its side, Pakistan’s side requires coordination to move forward. It was agreed that a joint technical visit would be undertaken as a first step, followed by the development of Terms of Reference (TORs).
The Minister highlighted the strategic importance of the location, noting that the Rimdan–Gabd area enjoys proximity to key maritime routes and major ports, making it a highly viable hub for trade and investment. He further observed that the area offers comparatively better security conditions than other border points, enhancing its attractiveness for investors.
The meeting also addressed the issue of Iranian containers currently stuck at Karachi Port for approximately 100 days. Ambassador Reza Amiri Moghadam requested Pakistan’s support for their early release, particularly as some consignments include essential goods such as medicines. The Minister assured that the Board of Investment would obtain detailed information and coordinate with relevant ministries to resolve the matter on priority.
Both sides expressed concern over the decline in cross-border trade volume. It was noted that prior to recent tensions, approximately 700–800 trucks were crossing the border daily, which has now decreased significantly. The two sides discussed enhancing this number, with a potential target of up to 2,000 trucks per day.
Ambassador Reza Amiri Moghadam also highlighted Iran’s readiness to provide Pakistan enhanced access to Central Asian markets, presenting significant opportunities for regional connectivity. Both sides agreed to actively promote joint ventures and encourage private sector collaboration.
The Federal Minister emphasized that current developments present a timely opportunity to expand trade through both land and sea routes. He acknowledged that while the SEZ initiative has been agreed at the highest level, implementation challenges remain, particularly in coordination with provincial governments as well as external geopolitical factors.
The Minister stated that the Special Investment Facilitation Council (SIFC) would be engaged to coordinate with provincial authorities to address these challenges. He reaffirmed that the Board of Investment would take a proactive lead in advancing this initiative.
Appreciating Iran’s forward-looking approach, the Minister remarked that such strategic thinking is vital for regional prosperity. He emphasized the urgency of resolving outstanding issues and accelerating implementation.
It was agreed that the Iranian side would formally share a comprehensive communication outlining key concerns, enabling the Board of Investment to convene an inter-ministerial meeting for coordinated action.
Ambassador Reza Amiri Moghadam extended an invitation to the Federal Minister to visit Iran, which was warmly accepted. The Minister noted that such a visit would be undertaken at the earliest possible opportunity.
The Board of Investment reiterated its full commitment to facilitating bilateral trade, resolving investment-related challenges, and strengthening long-term economic partnership between Pakistan and Iran.
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