TEHRAN — The Iranian and Pakistani governments announced the signing of a bilateral trade agreement Thursday as Iran's Foreign Minister Hossein Amir-Abdollahian and a high-ranking delegation were in Islamabad on a three-day visit.
The document, according to Iran's Fars news agency, will cover a period of five years and aims to raise the countries' annual trade volume to $5 billion, more than twice the current figure.
The deal came in line with a foreign policy drive by Iran, which has been seeking similar long-term partnerships to revive its sanctions-hit economy. In just the past two years, Tehran has inked similar agreements with China and Russia and is pushing for one with neighboring Iraq.
The Iranian economic delegation in Islamabad and its Pakistani peers finalized another document on bilateral investment after a third meeting of their joint economic committee. And on Friday, a separate agreement was clinched on trade cooperation between the Iranian and Pakistan chambers of commerce.
