UPDATE - Pakistan, Iran to boost relations with 5-year trade cooperation plan

CHANGES HEADLINE, DECK, LEDE, ADDS REMARKS THROUGHOUT

By Alperen Aktas and Esra Tekin

ISTANBUL (AA) - Pakistan and Iran formulated a five-year plan Thursday for trade collaboration, aiming to achieve a trade goal of $5 billion.

Foreign Minister Bilawal Bhutto Zardari and his Iranian counterpart Hossein Amir-Abdollahian met in Islamabad to discuss relations and regional issues.

On Wednesday, Amir-Abdollahian arrived in Pakistan’s capital for an official visit.

Zardari told reporters in a joint news conference that the trade plan had the primary objective of eliminating barriers, concluding a free trade agreement and establishing institutional connections between the private sectors of both nations.

“I am confident that the steps we are taking today will chart the course for a long-term durable economic partnership between our two countries in the months and years ahead,” he said.

"Wide-ranging talks are expected to cover all aspects of bilateral relations and the emerging regional situation," he wrote earlier on X, formerly known as Twitter.

He added that the two countries had agreed to prioritize the operationalization of the plan.

Zardari said the plan would “definitely serve the national interests of the two countries.”

Before flying to Islamabad, Abdollahian had said the two sides will discuss relations, economic cooperation, issues in the Muslim world and common security concerns, including the situation in Afghanistan.

It is Abdollahian’s first trip to Pakistan since his appointment.