Pakistani envoy calls it big step forward.
He says it will promote business between neighbouring states.
Earlier, Pakistan, Iran agreed to transform it into border of prosperity.
Pakistani Ambassador to Iran Muhammad Mudassir Tipu announced on Friday that Pakistan’s border crossing with Iran at Taftan and Gabd will remain open 24/7 to promote business between the neighbouring countries.
Calling it a big step forward, the ambassador said it would hopefully sharply increase the flow of goods between the two countries and consequently widen economic opportunities.
Pakistans border crossing with Iran at Taftan, Gabd to remain open 24/7
Pakistan and Iran on April 24 reiterated the importance of energy cooperation and electricity trade, despite the warning of potential sanctions hinted at by the United States following the then Iranian president Seyyed Ebrahim Raisi’s three-day visit to Pakistan.
‘Border of prosperity’
Agreeing to turn the common border between the two states from a ‘border of peace’ to a ‘border of prosperity’, both countries had reiterated the importance of cooperation in the energy domain, including trade in electricity, power transmission lines and Iran-Pakistan gas pipeline project.
During Raisi’s visit to Pakistan, both sides had underscored the imperative of a long-term durable economic partnership and collaborative regional economic and connectivity model, particularly for socio-economic development in Iran’s Sistan-Balochistan and Pakistan’s Balochistan provinces.
This was stated by the Foreign Office in a 28-point joint statement, hours after the Iranian head of state had departed for Tehran from Karachi.
The two sides had reviewed the entire spectrum of Pakistan-Iran bilateral relations, exchanged views on regional and global issues of mutual concern, and signed multiple accords.
The two countries, as per the statement, had agreed to expeditiously finalise the free trade agreement (FTA) and boost their bilateral trade to $10 billion over the next five years through joint economic projects, setting up of joint border markets, economic free zones, and new border openings.
Operationalise barter trade
There was consensus to fully operationalise barter trade mechanisms between the two sides to facilitate economic and commercial activity, particularly under ongoing collaborative endeavours, such as border sustenance markets.
Regarding connectivity, the two sides had expressed satisfaction over the regular shipment of goods under the TIR Convention and agreed to fully operationalize the Convention for further efficient, speedy and barrier-free trade.
As members of Belt and Road Initiative (BRI) and Economic Cooperation Organisation (ECO), the two countries had expressed firm resolve to enhance cooperation in connectivity, infrastructure development and energy sectors and agreed to expand linkages between Gwadar and Chahbahar ports.