The Federation of Pakistan Chambers of Commerce and Industry and the Iran Chamber of Commerce, Industries, Mines and Agriculture have signed a Memorandum of Understanding in Islamabad aimed at strengthening bilateral trade and economic cooperation between Pakistan and Iran. The agreement was signed during the closing ceremony of the 10th session of the Pakistan-Iran Joint Trade Committee, marking another step toward expanding commercial relations between the two countries. Federation of Pakistan Chambers of Commerce and Industry President Atif Ikram Sheikh and Iran Chamber of Commerce, Industries, Mines and Agriculture Vice President Hossein Pirmoazzen signed the agreement on behalf of their respective organisations. The development comes as representatives from both countries seek practical measures to increase trade, improve business connectivity and address challenges faced by companies operating across the Pakistan-Iran economic corridor.
The 10th session of the Pakistan-Iran Joint Trade Committee was co-chaired by Federal Minister for Commerce Jam Kamal Khan and Iran’s Minister for Industry, Mines and Trade Dr Mohammad Atabak. During the meeting, officials and business representatives discussed measures aimed at expanding bilateral trade and strengthening wider economic cooperation. The two sides also agreed on a roadmap to address challenges affecting the business communities of Pakistan and Iran. The discussions focused on creating conditions that can make cross-border commercial activity more efficient while providing businesses in both countries with greater opportunities to establish partnerships and expand their market presence. The agreed measures are intended to support stronger engagement between the private sectors of the two countries alongside formal government-to-government trade cooperation.
Under the Memorandum of Understanding, the Federation of Pakistan Chambers of Commerce and Industry and the Iran Chamber of Commerce, Industries, Mines and Agriculture agreed to promote barter trade, strengthen business-to-business linkages and enhance industrial cooperation and investment. The agreement also seeks to increase private sector participation in bilateral economic activity and facilitate the implementation of existing trade agreements between the two countries. Another key element is the activation of joint border markets, which are expected to provide additional channels for cross-border trade and create opportunities for businesses located in border regions. Through these measures, the two chambers aim to provide greater support to companies seeking commercial partners, investment opportunities and industrial cooperation in Pakistan and Iran.
Speaking at the ceremony, Federation of Pakistan Chambers of Commerce and Industry President Atif Ikram Sheikh described the Joint Trade Committee session as a historic milestone in Pakistan-Iran economic relations. He reaffirmed the commitment of Pakistan’s business community to working with Iranian counterparts toward the shared objective of increasing bilateral trade to $10 billion. Sheikh also welcomed the agreed plan to address trade issues associated with the border and said stronger cooperation between the two chambers could create new opportunities in trade, investment and industrial partnerships. He further expressed confidence that improved economic engagement between the private sectors of Pakistan and Iran could contribute to broader regional economic integration. The emphasis on stronger business-to-business connections is intended to complement official trade mechanisms by allowing companies from both countries to identify commercial opportunities and develop longer-term partnerships.
The two-day session concluded with the commerce ministers of Pakistan and Iran signing the agreed minutes outlining the outcomes of discussions on trade and economic cooperation. The signing of the minutes, alongside the Memorandum of Understanding between the two chambers, provides a framework for continued engagement on the issues discussed during the Joint Trade Committee session. The focus on barter trade, joint border markets, private sector participation, industrial cooperation and investment reflects the two countries’ efforts to broaden the scope of bilateral economic relations. With the Federation of Pakistan Chambers of Commerce and Industry and the Iran Chamber of Commerce, Industries, Mines and Agriculture committing to closer cooperation, the agreement is expected to support further discussions between businesses and institutions in both markets. The shared $10 billion trade objective also establishes a broader target for future commercial engagement, while the agreed roadmap is intended to help address practical barriers affecting bilateral trade and investment.
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