Pakistan-Iran Bilateral Trade Volume Exceeds $2 Billion

For the first time in the history of Pakistan-Iran economic relations, the volume of bilateral trade has exceeded $2 billion. This was revealed during a farewell meeting for the outgoing Ambassador of the Islamic Republic of Iran to Pakistan Syed Mohammad Ali Hosseini with Federal Minister for Economic Affairs Sardar Ayaz Sadiq at the Ministry of Economic Affairs on Tuesday. The ambassador said that Iran is inaugurating numerous projects including the electricity transmission project, a trial run of the border market, and other projects that are to be completed in near future. “Currently, Iran is exporting 144 MW of electricity to Pakistan, and this figure is expected to double upon the completion of power projects in Pakistan. Iran has the potential to export 500 MW of electricity to Pakistan,” said the ambassador. Ambassador Hosseini expressed his appreciation for the warm hospitality and support he had received during his tenure in Pakistan. He reiterated Iran’s commitment to further enhancing the economic relations between the two countries and expressed confidence that his successor would continue the positive momentum. “Despite facing pressure, we have strong resolve in all areas,” said Ambassador Hosseini. He apprised the minister that for the first time in the history of Pak-Iran economic relations, the volume of bilateral trade exceeded $2 billion.