Wednesday, May 29, 2024

Pakistan, Iran Sign Accord on Special Economic Zone at Pak-Iran Border

The recent visit of Iranian President Ebrahim Raisi to Pakistan marks a significant milestone in the bilateral relations between the two neighboring countries. With the signing of eight agreements spanning various sectors, both nations have signaled their commitment to enhancing cooperation and fostering mutually beneficial ties.

One of the key agreements, the establishment of the Rimdan-Gabd Joint Free/Special Zone, holds immense potential for boosting trade and economic collaboration. This zone is poised to facilitate smoother trade flows and encourage investment, contributing to economic growth and job creation in both countries.

The Memorandum of Understanding (MoU) on Mutual Recognition of Standards is crucial for streamlining trade procedures by aligning regulatory frameworks. This will help remove barriers to trade and promote smoother exchanges of goods and services.

Additionally, agreements on cooperation in areas such as science and technology, agriculture, health, culture, and judicial matters underscore the comprehensive nature of the bilateral relationship. These agreements pave the way for exchange programs, joint research initiatives, and capacity-building efforts that will benefit both nations.

The visit also included symbolic gestures of friendship and cooperation, such as the tree-planting ceremony to mark Earth Day and the naming of a highway in Islamabad as Iran Avenue. These gestures reflect the shared commitment to environmental sustainability and the strengthening of people-to-people ties.

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