Pak-Iran FTA vital for strengthening bilateral trade, says FM Dar
The foreign minister said this addressing the Pakistan-Iran Business Forum in Islamabad, in the presence of President of Iran Masoud Pezeshkian and the accompanying high-level delegation, the Foreign Office said.
Reaffirming the deep-rooted brotherly ties between Pakistan and Iran, the FM underscored Pakistan's commitment to enhancing economic cooperation and regional connectivity. He welcomed the positive momentum toward finalising the Pakistan-Iran FTA.
'The economic diplomacy is a cornerstone of Pakistan's foreign policy,' he emphasised.
He also highlighted the importance of deepening people-to-people linkages to ensure the shared prosperity of both countries.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
an hour ago
- Business Recorder
Dar, Rubio discuss economic cooperation
ISLAMABAD: Deputy Prime Minister/Foreign Minister, Senator Mohammad Ishaq Dar spoke with US Secretary of State Marco Rubio and discussed regional and bilateral issues, here on Monday. Both sides agreed to remain in contact and continue cooperation on areas of mutual interest, said Foreign Office (FO) spokesperson in a statement. The two leaders discussed a range of bilateral matters and exchanged views on current regional and international issues. Pakistan says it's close to US trade deal, Washington gives no timeline The phone call comes amid series of bilateral engagements between the two countries during last couple of months. Dar held important meetings with American officials during his recent visit to the United States including Secretary of State Marco Rubio. Copyright Business Recorder, 2025
Business Recorder
an hour ago
- Business Recorder
‘Mera Brand Pakistan' event to be held at Lahore Expo Centre
LAHORE: Mera Brand Pakistan' Expo will be held at Lahore Expo Centre from August 14 and 15. The event aims to promote Pakistani products and industries and foster self-reliance in the national economy. It was revealed at a Press Conference jointly organized by the Lahore Chamber of Commerce and Industry and Pakistan Business Forum. Addressing the press conference, President of LCCI Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman, Chaudhry Mohsin Bashir, Ijaz Tanveer, Abdul Wadood Alvi and Asim Shafiq Sheikh underscored the importance of trust building trust in locally made products and promoting the 'Made in Pakistan' identity. LCCI President Mian Abuzar Shad said that it is time to end reliance on foreign goods and embrace the immense potential of local industries. 'Our national industries have remarkable capacity – they only need trust and promotion. The Mera Brand Pakistan Expo is designed to provide every Pakistani manufacturer and brand with a platform to showcase their products to the public, buyers and exporters. He said that Pakistan must become self-sufficient to meet its needs and that pride in national production and participation in such expos is essential. The key to Pakistan's growth lies in boosting exports, and that is only possible by enhancing the global identity of Pakistani products. Engineer Khalid Usman, LCCI Senior Vice President, called the event a significant step toward economic self-reliance. He said the exhibition has especially created space for small and medium enterprises. He said that Economic stability is impossible without the growth of local production. The exhibition will feature a wide array of Made-in-Pakistan goods, including textiles, cosmetics, food, household items, furniture, footwear, leather goods, engineering products and daily-use essentials. Ijaz Tanveer said that every small industrialist in Pakistan has the potential to bring major change. This is the moment for our youth entrepreneurs to benefit from such a platform and transform Pakistan from a consumer market into a producer economy. Chaudhry Mohsin Bashir described the expo as a reflection of national vision and unity. We must work together to take Pakistani brands to the global stage. LCCI office-bearers added that Mera Brand Pakistan' is not just a trade exhibition but a national movement aimed at self-sufficiency, economic stability, and international promotion of Pakistani products. The expo provides a unique opportunity for local manufacturers to showcase their offerings and expand into new markets. Copyright Business Recorder, 2025
Business Recorder
an hour ago
- Business Recorder
Sugar crisis: CJP urged to take suo motu notice
ISLAMABAD: The Chief Justice of Pakistan (CJP) is asked to take suo moto on the sugar crisis and constitute a commission to fix responsibility for policy manipulation and identify lapses in regulation. Mustafa Nawaz Khokhar on behalf of Tehreek-e-Tahafuz-e-Ayin Pakistan (TTAP), on Monday, wrote a letter to CJP Yahya Afridi, and urged him to refer the matter to a three-member judges' committee of the Supreme Court and treat the letter as a petition under Article 184(3) of the Constitution. He stated that as all available redressal forums that could provide relief remain silent, seemingly due to pressure from the executive, which is why we are writing to you. Mustafa submitted that a comprehensive and transparent investigation is imperative to uncover the full extent of policy manipulation within the sugar industry. Identify all beneficiaries of these exploitative decisions, especially those from the ruling coalition who hold significant stakes in the sugar mills, and ensure strict accountability for those who have prioritised personal gain over national interest and public welfare. The TTAP vice chairman wrote that alarming increase in sugar price is not a mere market fluctuation but a direct consequence of deliberate policy choices. 'Prime Minister Shehbaz Sharif's government, in a move that defies logic and public interest first approved the export of 765,000 metric tonnes of sugar between July 2024 and May 2025, despite clear warnings of impending supply shortages,' he stated. This decision allowed a select group of sugar barons to reap immense profits. Subsequently, when local prices skyrocketed, the government paradoxically approved the import of 500,000 metric tons of sugar, further facilitating the same beneficiaries through preferential tax treatment. The cabinet waived all duties and taxes on these imports. This tax exemption has rightly drawn the ire of the International Monetary Fund (IMF), clashing with loan conditions and exacerbating Pakistan's fiscal strain. This export-import cycle, repeated over the past 24 months, unequivocally exposes the profound influence of the sugar industry over national policy. It raises serious questions about economic stewardship and, more critically, about who truly benefits from these decisions. He mentioned that the Public Accounts Committee (PAC) was informed on July 29th, that sugar mills have earned Rs300 billion due to recent fluctuations in the rates of this essential commodity. The Competition Commission of Pakistan (CCP) has postponed the hearing of the sugar cartel case after over 70 sugar mills requested a delay, citing the unavailability of legal counsel due to the Supreme Court's summer recess. In 2021, the CCP imposed a Rs44 billion fine on the PSMA and its member mills for forming a cartel to fix sugar prices and engaging in other anti-competitive practices. Copyright Business Recorder, 2025
