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Pakistan, Iran to increase bilateral trade to 10 bn USD, sign eight MoUs

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Iranian President Ebrahim Raisi declared on Monday that Iran and Pakistan have resolved to boost their bilateral trade volume to $10 billion, emphasizing the need for significant improvement from the current levels, which he deemed unacceptable.

Raisi, who is on a three-day visit to Pakistan, made these remarks during a joint press conference with Prime Minister Shehbaz Sharif following their meeting in Islamabad. This visit marks the first by any head of state after Pakistan’s February 8 general elections.

Expressing gratitude for the warm reception, Raisi conveyed his appreciation to PM Shehbaz and the Pakistani government. He extended greetings to the Pakistani people advocating for the freedom of Al Quds Al Sharif (Jerusalem), underscoring the shared religious and cultural ties between the two nations.

Highlighting the importance of bilateral relations, Raisi announced plans to elevate ties across political, economic, trade, and cultural spheres. Emphasizing common ground on counterterrorism efforts, he reaffirmed the joint commitment to combatting terrorism, organized crime, and narcotics, ensuring mutual security.

Addressing the potential challenges to bilateral relations, Raisi dismissed detractors, stressing the insignificance of dissenting voices in hindering the progress of Iran-Pakistan cooperation.

In response, PM Shehbaz echoed the sentiments of strengthening Pak-Iran ties despite challenges, underscoring the comprehensive discussions on religious, cultural, diplomatic, investment, and security matters during their meeting.

Praising Raisi’s leadership, PM Shehbaz hailed Iran’s steadfast stance on global issues, particularly the ongoing Israeli offensive on Gaza and the situation in Indian-occupied Kashmir. He expressed hope for further collaboration to transform shared borders into hubs of prosperity and development.

During their meeting, both leaders agreed on concerted efforts to combat terrorism and enhance trade and communication links. Additionally, they witnessed the signing of eight agreements and Memorandums of Understanding (MoUs) spanning various fields, including security, economic zones, and legal cooperation.

Earlier in the day, Iranian President Raisi arrived in Islamabad, where he was warmly welcomed by government officials. The visit holds significance in fostering closer ties between the two nations, with a focus on mutual cooperation and regional stability.

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