Speaker of the Parliament of Iran, Mohammad Bagher Ghalibaf, expressed confidence that efforts to expand Iran-Pakistan trade will yield results “in the coming weeks,” following meetings in Karachi and earlier talks in Islamabad.
Speaking exclusively to Geo News after a meeting with Governor Sindh Kamran Tessori, with a broad smile on his face, Ghalibaf indicated that, as a result of his meetings, he anticipated significant developments in diplomatic, political, and economic fields in the near future.
Earlier, he addressed the “Iran Pakistan Business Forum” at the same venue.
He appreciated the role of the government, parliament, and the people of Pakistan in supporting Iran during the 12-day war against Israel and the United States of America.
“Pakistan’s wisdom will go down in history and remain in the memories of the Iranian nation,” remarked Ghalibaf. “That was the reason why I chose to personally visit Pakistan and express my gratitude,” the speaker of the Iranian parliament told participants.
Ghalibaf voiced a near-term target for bilateral trade of US$10 billion within two to three years, urging both sides to finalise commodity lists, dismantle tariff and non-tariff barriers, develop better-equipped trade zones, and encourage barter trade.
Laying out a facilitation-first approach, he said: “The governments of both nations should facilitate, not intervene,” calling for working groups to resolve financing constraints.
He also floated tripartite Iran–Pakistan–China trade as an option and suggested using the Shanghai Cooperation Organisation (SCO) transaction mechanism to overcome payment hurdles.
Iran’s ambassador, Reza Amiri Moghaddam, said that a number of memoranda of understanding (MoU) were signed during the recent visit of the Iranian president, and it is time to make further progress.
“We are one spirit in two bodies. We want to improve economic relations. We hope that difficulties, impediments, and obstacles will be removed and we will find some solutions based on previous experiences,” said Moghaddam.
From Pakistan’s side, Trade Development Authority of Pakistan (TDAP) Chief Executive Zubair Motiwala questioned the absence of free trade, citing current volumes of about US$3 billion, and said the Preferential Trade Agreement (PTA) should be revisited. He called for steps to address the trade deficit, build confidence, and devise workarounds when banking channels stall.
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Senior Vice President Saqib Fayyaz Magoon proposed industrial zones in border areas, greater facilitation for Pakistani businesses in Iran, and a shift “from dialogue to delivery.”
An Iranian businessman urged both sides to reshape business models and convert border markets into export-oriented zones, highlighting delays of at least five days for truck clearance at Taftan. He pressed for Tehran–Karachi flights, rail cargo links, and the presence of a central bank representative in Pakistan.
United Business Group (UBG) President Zubair Tufail identified the lack of a banking channel as the biggest bottleneck, urging a move from PTA to a Free Trade Agreement (FTA) and a meeting of central bank governors to resolve payments.
Another Iranian trader said an FTA has been pending for nine years, but that “90% improvement has taken place in the last nine months.” Speakers also called for simplified document clearance, ending manual procedures, and improving logistics sites in Iran, while praising the role of Iran’s commercial attache Morad Nemati-Zargaran.
Ghalibaf, whose delegation arrived in Islamabad two days earlier, described “fruitful meetings” with Prime Minister Shehbaz Sharif, Acting President Syed Yousuf Raza Gilani, and National Assembly Speaker Ayaz Sadiq.
The visiting team included Fida Hossein Maleki, Mohammad Nour Dehani, Rahmdel Bamiri, Mehrdad Goodarzvand Chegini, Fazlollah Ranjbar, Vahid Jalalzadeh, and Abolfazl Amouei.