Pakistan commences work on establishing three markets near Iran border

It is pertinent to state that as per the agreement, six marketplaces are to be established on the border between Balochistan and the Iranian province of Sistan-Baluchestan.

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Iran, Pakistan open new border gateway to ease tradePakistan has commenced work for establishing three markets at the Pak-Iran border in Balochistan for trade.

The memorandum of understanding (MoU) for the markets’ establishment was signed by Iran and Pakistan in April this year.

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The news regarding the markets’ establishment was revealed by the Adviser to the Prime Minister on Commerce & Investment, Abdul Razzak Dawood, in a Twitter post on Tuesday.

“Three Border Markets are now being established at Gabd, Mund & Chedgi in Balochistan, near our border with Iran,” the adviser tweeted.

According to the MoU, both sides consented to establish ‘Border Markets’ along the border endorsed between Iran and Pakistan in April 2021.

Dawood added that these markets will not only boost bilateral trade but would also provide economic opportunities and sustenance to locals dwelling in the border areas.

In the initial phase, three markets will be established at the border points, and in the following phase of the plan, joint border bazaars will be set up in three other border points later.

It is pertinent to state that as per the agreement, six marketplaces are to be established on the border between Balochistan and the Iranian province of Sistan-Baluchestan.

The recently opened Rimdan-Gabd border between Iran and Pakistan.

The two Islamic republics are classifying several ways, including a free trade agreement, to expand their bilateral trade volume.

At present, the bilateral trade between the two states stands at $359 million.

Last September, the Prime Minister, Imran Khan, had authorized the establishment of 18 markets along the borders of Afghanistan and Iran.

Out of these markets, 12 will be set up near the Afghan border.

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