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Pakistan Iran to conclude Free Trade Agreement FTA

Pakistan Iran to conclude Free Trade Agreement FTA

*Islamabad – Pakistan foreign ministry spokesperson says Chabahar andGwadar as sister ports complement each other in promoting future trade,transit and connectivity.*

Muhammad Faisal responding to a question during his weekly news briefing inIslamabad on Thursday said Pakistan will continue to work with Iran fordeepening connectivity between the two ports.“We have excellent relations with Iran,” he said.

He said that Iranian foreign minister’s invitation to Pakistan to joinChabahar port project would be examined.

“Our minister of maritime affairs participated in the inauguration of thepart of Chabahar port, we will continue to work with Iran for deepeningconnectivity between the two ports,” said the official.

In his remarks the spokesperson said Foreign Minister of Iran MohammadJavad Zarif visited Pakistan from 11-13 March, 2018 and held consultationson bilateral relations and regional peace and security with KhawajaMuhammad Asif, the Foreign Minister of Pakistan, at the Ministry of ForeignAffairs.

“The two sides agreed to continue engagement for enhancing economiccooperation including bilateral trade, investments and commercialinteraction, in order to promote the shared prosperity,” he said.

The spokesperson added that the two ministers reiterated their resolve toachieve the target of $ 5 billion by 2021, through regular exchange oftrade delegations, establishing banking channels, holding trade exhibitionsand addressing tariff and non-tariff barriers.

“They further resolved to conclude the Free Trade Agreement (FTA) onpriority,” he said.

Muhammad Faisal said the foreign ministers underlined that as two brotherlyneighboring countries Iran and Pakistan would deepen connectivity betweenthe two sister ports of Gwadar and Chabahar to benefit from theircomplementarities.

“The two foreign ministers also exchanged views on important developmentson regional and international peace and security,” he said.

He further added that they supported the political resolution of the Afghanconflict for durable peace and stability in Afghanistan, and the region.

“Pakistan and Iran reiterated support for the peaceful struggle of thepeoples of Palestine and Kashmir for realization of the right to selfdetermination,” said the official.

He went on to say that the two countries also emphasized the need for allparties to honor commitments under the Joint Comprehensive Plan of Action(JCPOA).