Iran & Pakistan sign agreements to boost security, trade

Iran has signed agreements with Pakistan to boost trade and security. The agreements were signed during Iran President’s visit to Pakistan.

Importance of the Agreements

• The talks between the two leaders mainly concentrated on economic relations and security reasons
• This is the visit by an Iranian president after 14 years to Pakistan
• The talks were about the issues related to energy, gas ,the export of electricity, economic integration in the region, promoting tourism and also focused on people to people contacts
• The visit also discussed about the controversial gas pipeline from Iran, through Pakistan to India
• Iran has invested over $2bn in the project, but Pakistan has yet to finish construction on its half of the pipeline
• They also witnessed the signing of six agreements related to trade and economy including a Five Year Strategic Trade Cooperation Plan
• The two countries were targeting $5 billion worth of mutual trade by 2021

Points to note

• Pakistan PM- Nawaz Sherif
• Capital- Islamabad
• Iran President– Hassan Rouhani
• Capital– Tehran