Pakistan, Iran to Establish Joint Economic Zone

Pakistan and Iran have agreed to establish a joint special economic zone, according to sources. The initiative aims to foster closer economic collaboration between the two nations, with the federal cabinet granting approval to sign a Memorandum of Understanding (MoU) during President Ebrahim Raisi’s upcoming visit to Pakistan on April 22.

Sources reveal that the proposed special economic zone, located on the Ramdan-Gabad border, has been finalized through mutual agreement and will operate at the government-to-government level.

Foreign Minister Ishaq Dar confirmed President Raisi’s scheduled visit, emphasizing that it predates recent tensions between Tehran and Tel Aviv, and is solely focused on bilateral relations.

During his visit, President Raisi is expected to engage in high-level meetings with President Asif Ali Zardari, Prime Minister Shehbaz Sharif, and Chief of Army Staff General Asim Munir. Discussions will encompass various areas including border security, the Iran-Pakistan gas pipeline project, trade, economic cooperation, and mutual interests.

This move comes against the backdrop of recent diplomatic tensions between the two countries, stemming from cross-border incidents. However, diplomatic channels have been swiftly restored, with ambassadors returning to their respective posts, signaling a commitment to maintaining dialogue and cooperation.