ISLAMABAD: Prime minister Shehbaz Sharif and Iranian president Ebrahim Raisi will jointly inaugurate Mand-Pishin border sustenance marketplace and Polan-Gabd electricity transmission line at the Mand-Pishin border crossing point today (May 18).
“One of the six border markets to be constructed along the Pak-Iran common border, the Mand-Pishin border sustenance marketplace will provide a thriving platform for increasing cross-border trade, fostering economic growth and opening up new avenues of opportunity for local businesses. The Polan-Gabd electricity transmission line plays a pivotal role in meeting the energy needs of the region, including households and businesses, by bringing in additional 100MW electricity from Iran,” a statement issued by Pakistan's Foreign Office (FO) read.
According to the FO, the joint inauguration was "a manifestation of the strong commitment of Pakistan and Iran to uplift welfare of the residents of the provinces of Balochistan and Sistan-Baluchestan". “It also serves as a significant stride forward in relationship between the two countries,” the FO noted.
The border sustenance marketplace is expected to boost trade between the two countries by providing a platform for Pakistani and Iranian traders to exchange goods, and five more border marketplaces are in the process of being established. At the outset, the border market will offer a range of products, including food, clothing, and electronics, with the range of products expected to magnify in the future as Pakistan and Iran share cultural and culinary identities to a great extent.
In addition to the border market, the new 100MW Polan-Gabd transmission line, also to be inaugurated today, will connect the Pakistani city of Quetta to the Iranian city of Zahedan, and is expected to improve the supply of electricity to the region.
Pak-Iran economic ties
Pakistan and Iran share a 959km-long border that begins at Koh-i-Malik Salih mountain and ends at Gwadar Bay in the Gulf of Oman. The trade volume between the two countries currently stands at around $2 billion. Iran already exports around 100 megawatts of electricity to Pakistan's border areas in Balochistan.
The inauguration of the Mand-Pishin border sustenance marketplace was discussed last week during a meeting between federal commerce minister Syed Naveed Qamar and Iran's chairman for the Commission of National Security and Foreign Policy, Vahid Jalalzadeh.
“This border crossing, to be inaugurated by the prime minister of Pakistan and the president of Iran, holds immense significance in promoting trade and connectivity between the two countries,” the commerce ministry said in a statement issued after the meeting. “The opening of this border is expected to facilitate smooth movement of goods and people, further enhancing economic cooperation.” the ministry said.
Commerce minister Qamar emphasised the importance of opening new border markets and implementing a barter trade system to facilitate greater commercial exchange. These measures, he believed, could contribute to a significant surge in trade volume between Iran and Pakistan.
Energy resources
Naveed Qamar also stressed the importance of expediting the long-delayed Iran-Pakistan gas pipeline. Discussions to build the pipeline began in 1995, but it has yet to be completed. The pipeline project is stymied mainly due to absence of requisite financial capacity in Pakistan, and even more so the complications that arise due to US and Western sanctions over Iran’s nuclear activities.
“The minister stressed the importance of expediting the project, as it holds immense potential for energy cooperation between the two countries,” the commercy ministry statement said. “He pledged his commitment to resolve any obstacles and move forward with the pipeline, which would bring substantial benefits to both nations.”
“One of the six border markets to be constructed along the Pak-Iran common border, the Mand-Pishin border sustenance marketplace will provide a thriving platform for increasing cross-border trade, fostering economic growth and opening up new avenues of opportunity for local businesses. The Polan-Gabd electricity transmission line plays a pivotal role in meeting the energy needs of the region, including households and businesses, by bringing in additional 100MW electricity from Iran,” a statement issued by Pakistan's Foreign Office (FO) read.
According to the FO, the joint inauguration was "a manifestation of the strong commitment of Pakistan and Iran to uplift welfare of the residents of the provinces of Balochistan and Sistan-Baluchestan". “It also serves as a significant stride forward in relationship between the two countries,” the FO noted.
The border sustenance marketplace is expected to boost trade between the two countries by providing a platform for Pakistani and Iranian traders to exchange goods, and five more border marketplaces are in the process of being established. At the outset, the border market will offer a range of products, including food, clothing, and electronics, with the range of products expected to magnify in the future as Pakistan and Iran share cultural and culinary identities to a great extent.
In addition to the border market, the new 100MW Polan-Gabd transmission line, also to be inaugurated today, will connect the Pakistani city of Quetta to the Iranian city of Zahedan, and is expected to improve the supply of electricity to the region.
Pak-Iran economic ties
Pakistan and Iran share a 959km-long border that begins at Koh-i-Malik Salih mountain and ends at Gwadar Bay in the Gulf of Oman. The trade volume between the two countries currently stands at around $2 billion. Iran already exports around 100 megawatts of electricity to Pakistan's border areas in Balochistan.
The inauguration of the Mand-Pishin border sustenance marketplace was discussed last week during a meeting between federal commerce minister Syed Naveed Qamar and Iran's chairman for the Commission of National Security and Foreign Policy, Vahid Jalalzadeh.
“This border crossing, to be inaugurated by the prime minister of Pakistan and the president of Iran, holds immense significance in promoting trade and connectivity between the two countries,” the commerce ministry said in a statement issued after the meeting. “The opening of this border is expected to facilitate smooth movement of goods and people, further enhancing economic cooperation.” the ministry said.
Commerce minister Qamar emphasised the importance of opening new border markets and implementing a barter trade system to facilitate greater commercial exchange. These measures, he believed, could contribute to a significant surge in trade volume between Iran and Pakistan.
Energy resources
Naveed Qamar also stressed the importance of expediting the long-delayed Iran-Pakistan gas pipeline. Discussions to build the pipeline began in 1995, but it has yet to be completed. The pipeline project is stymied mainly due to absence of requisite financial capacity in Pakistan, and even more so the complications that arise due to US and Western sanctions over Iran’s nuclear activities.
“The minister stressed the importance of expediting the project, as it holds immense potential for energy cooperation between the two countries,” the commercy ministry statement said. “He pledged his commitment to resolve any obstacles and move forward with the pipeline, which would bring substantial benefits to both nations.”