Pak-Iran border markets to uplift border regions, foster businesses opportunities: PM.

ISLAMABAD: Prime Minister (PM) Shehbaz Sharif has said that Pakistan-Iran border markets would not only ameliorate the socioeconomic conditions of the border regions but also foster new opportunities for local businesses.

The PM in an exclusive interview with Iran's official news agency IRNA published on Thursday, stressed the importance of enhanced cooperation with Iran saying that the energy projects and border markets were emblematic of the vitality of Pakistan-Iran friendship.

The PM's interview came as he, along with Iran's President Seyed Ebrahim Raisi jointly inaugurated the Mand-Pishin border sustenance market on Thursday aimed at boosting the bilateral trade. This is one of the six border markets which will be constructed along the Pak-Iran common border.

Shehbaz Sharif said Pakistan and Iran were brotherly countries bound by deep-rooted religious, cultural, and linguistic ties. "Both our governments are collaborating closely for the betterment and socio-economic uplift of our peoples," he added.

He said the Mand-Pishin border marketplace and the Polan-Gabd electricity project were tangible manifestations of this resolve. They would also serve as a stepping stone for greater cooperation between our two countries, especially in the economic domain.

In order to enhance bilateral trade, the PM called for intensifying the efforts and applying collective energies and resources. He said both Pakistan and Iran were deeply committed to achieving an annual trade volume of $5 billion.

"The operationalization of the barter trade mechanism is a significant step in that regard," he remarked. The PM expressed hope that the border markets would enhance trade and contribute to the development of the two nations.

Coming to the regional situation, the PM congratulated the governments of Iran and the Kingdom of Saudi Arabia (KSA) on the resumption of diplomatic ties.

"This milestone achievement is a testament to the vision and foresight of the astute leadership of Iran and KSA and the valuable role played by China. We are confident that this important development would serve as a harbinger for regional peace and prosperity," he said.

The PM believed that the Polan-Gwadar electricity project was emblematic of the vitality of the Pakistan-Iran friendship and a testimony of the strength of mutual cooperation.

He noted that several initiatives for the improvement of maritime and port cooperation were being discussed between Pakistan and Iran, including...