EghtesadOnline: Chairman of the Majlis Commission for National Security and Foreign Policy Alaeddin Boroujerdi said Pakistan and Iran have agreed to expand cooperation between Gwadar and Chabahar ports for connecting these two seaports with Central Asian states and China for promoting greater regional cooperation.
Speaking at a news conference on Friday, the visiting Iranian official stated that the two counties have also agreed to enhance bilateral trade to $5 billion from the existing $ 1 billion, adding the there is a great deal of potential to increase the unsatisfactory volume of two-way trade between the neighboring countries.
“Gwadar and Chabahar are sister ports and they will help boost trade between the two countries,” Boroujerdi was quoted as saying by Pakistan’s biggest financial daily Business Recorder.
Referring to the Iran-Pakistan Gas Pipeline project, the Iranian official said the project is the top priority of the two countries and noted that Iran has already completed the installation of 70-km-long pipeline up to Pakistan’s border, according to Financial Tribune.
The Iran–Pakistan gas pipeline, also known as the Peace Pipeline, is an under-construction 2,775-kilometer pipeline to deliver natural gas from Iran to Pakistan.