Pakistan and Iran have signed MoU to boost bilateral trade to $10 billion

Pakistan and Iran have signed a Memorandum of Understanding (MoU) to boost bilateral trade to $10 billion. This move is aimed at strengthening economic cooperation between the two countries.

In the previous fiscal year, trade between Pakistan and Iran stood at $2.8 billion. As part of the agreement, Iran has pledged to reduce business visa fees for Pakistani businessmen and facilitate trade activities.

The initiative follows a series of diplomatic efforts and comes after tensions over border instability were addressed. This agreement is expected to enhance Pakistan’s economic recovery under the IMF program.