Pakistan and Iran to Establish Border Market

A memorandum of understanding (MoU) has been signed between the Islamic Republic of Pakistan and the Islamic Republic of Iran for the establishment of joint border markets along the common border between the two countries. The MoU was signed by the foreign ministers of both countries with the aim of promoting economic relations between them while keeping in view the welfare of the border residents. ALSO READ SBP Develops Mechanism for Payment of Markup Subsidy for Housing Finance Accordingly, in the first phase, three bazaars will be established at the border points of Kuhak-Chadgi, Rimdan-Gabd, and Pishin-Mand. In later phases, joint border bazaars will also be established at three other border points. These markets will be managed according to the agreements made between the parties and the methods determined by the two countries.