Pakistan, Iran sign 39 MoUs to boost trade.

QUETTA -- Pakistan and Iran have signed 39 memorandums of understanding to enhance bilateral trade, improve economic relations and ensure cooperation in various fields such as transportation, tourism, fisheries, mines and minerals.

The MoUs were signed at the conclusion of a two-day meeting of the joint border trade committee on Sunday night. The meeting discussed various issues relating to the implementation of agreements signed between the two countries in 2010 and 2006 for increasing trade volume and providing facilities for import and export at the Pak-Iran borders.

Both sides agreed that the Zahidan Chamber of Commerce, Industries, Mines and Agriculture and Quetta Chamber of Commerce and Industry will make joint investment for provision of the required infrastructures in customs, trade, transportation and airline sectors.

It was agreed that the authorities concerned would be approached to increase the number of items included in the Preferential Trade Agreement signed between Pakistan and Iran and reduce tariff.

It was decided that both countries would take measures to increase bilateral trade to $5 billion annually and also try to achieve balance of trade.

Both sides agree on opening of more joint border markets

Both sides agreed that an additional border crossing point shall be opened at Kohak-Panjgur in order to increase bilateral trade.

It was also agreed that recommendations should be sent to higher authorities for establishment of new joint border markets at Mir Javeh-Taftan (first priority), Jalgh-Mashkel (second priority) and Shamsar (third priority) after approval by the relevant authorities and identification of exact locations by a joint technical team.

The two sides agreed that relevant ministries and authorities would be approached to sign a free trade agreement between Iran and Pakistan. It was agreed that efforts shall be made by...