Trade With Pakistan Up 35%

Trade between Iran and Pakistan rose 35% in the last Iranian year (ended March 20, 2017) compared to the preceding year to stand at $1.15 billion. Iran’s exports to Pakistan, mainly including gas, oil derivatives and nuts, accounted for over $775 million of the total sum, IRNA reported. A roadmap was agreed upon between Iran and Pakistan during President Hassan Rouhani’s state visit to the neighboring country in March 2016, based on which bilateral trade is targeted to reach $5 billion in five years (by 2021). The two sides are also in talks to sign a free trade agreement to boost commercial exchanges. The second round of mutual negotiations is scheduled for July.