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Pakistan, Iran to discuss free trade agreement

by ChemOrbis Editorial Team - content@chemorbis.com
  • 22/12/2016 (15:47)
According to media reports, Pakistan’s Commerce Minister will visit Iran’s Minister of Industry, Mines and Trade on December 28-29 in an effort to finalize the details of the bilateral free trade agreement the two countries signed in March.

With the free trade agreement, the trade between Islamabad and Tehran is expected to reach $5 billion per year in the following five years.

Previously, the two countries had signed a preferential trade agreement in September 2006 but the highest annual transaction made so far was $1.3 billion in 2012, which was further pulled down to $432 million after the US sanctions on Iran.
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