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Iran's economic cooperation with Pakistan to grow

Business Materials 21 April 2021 13:10 (UTC +04:00)
Iran's economic cooperation with Pakistan to grow

BAKU, Azerbaijan, Apr. 21

By Elnur Baghishov – Trend:

The opening of the 3rd border checkpoint between Iran and Pakistan will increase economic cooperation between the two countries, Iranian Minister of Roads and Urban Development Mohammad Eslami said, Trend reports citing the ministry.

He made the remark in an event dedicated to the opening of the Pishin-Mand border checkpoint between Iran and Pakistan today on Apr. 21.

According to Eslami, about 4 months after the opening of the Rimdan-Gabad border checkpoint, the Pishin-Mand border checkpoint has been opened.

Eslami added that Iran and Pakistan have a 595-kilometer border. The increase in border checkpoints between the two countries, the creation of border markets, the construction of industrial complexes will benefit the economies of the two countries.

“In addition, a document will be signed to maximize the use of border markets and increase cooperation between the two countries,” he said.

The minister emphasized that the Iranian side is ready to hold the 21st meeting of the joint economic cooperation commission of the two countries in the next three months.

Reportedly, the 3rd border, the Pishin-Mand checkpoint between Iran and Pakistan was opened today. This border checkpoint is located on about 2.5 hectares of land. About 4 trillion rials (about $95.2 million) were spent on the construction of the border checkpoint. The value of trade turnover between Iran and Pakistan is estimated to reach $1.5 billion with the opening of the border checkpoint.

According to the statistics of the Trade Promotion Organization of Iran (TPOI), the trade turnover between Iran and Pakistan amounted to 2.72 million tons worth $1.18 billion over the last Iranian year (from March 20, 2020, through March 20, 2021). Trade turnover decreased by 18 percent compared to the preceding Iranian year.

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