Tehran: Secretary of Iran’s Supreme Council of the Free Trade-Industrial and Special Economic Zones Reza Masrour has announced the possibility of establishing a joint free trade zone and enhancing the China-Pakistan Economic Corridor (CPEC) by connecting it through Iran to Russia and Europe. This proposal aims to be a focal point in the evolving trade relations between Tehran and Islamabad.

According to Islamic Republic News Agency, Masrour, during a meeting with Pakistan’s Federal Minister for Commerce Jam Kamal Khan, emphasized that fostering good neighborliness could significantly boost trade, activate joint production capacities, and enhance economic exchanges between Iran and Pakistan. The meeting was part of an official visit by President Masoud Pezeshkian and his delegation to Pakistan, which began on Saturday.

Masrour highlighted the historical and civilizational ties between Iran and Pakistan, underscoring the potential for expanded cooperation across various sectors. He suggested that one area of mutual interest could be offshore rice farming, with processing in the Chabahar Free Zone, especially given Iran’s challenges with water shortages.

Key initiatives proposed include issuing multi-entry visas to traders from both countries, establishing a joint free trade zone, and linking the CPEC through Iran to broader regions such as Russia and Europe. These measures are expected to significantly enhance economic relations between the two countries.

Kamal Khan expressed support for these proposals, viewing them as crucial for increasing current economic exchanges, which presently stand at approximately $3 billion.