Chamber of Commerce of Iran and Pakistan have signed three different cooperation documents including among others on forming a joint trade council and resolution of trade disputes.
It comes as a private sector delegation from Iran is on a visit to Pakistan during which the Iranian businesspersons will visit the Pakistani cities of Karachi and Lahore.
The documents were signed by President of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Gholam Hossein Shafei who heads the Iranian delegation to Pakistan and President of the Federation of Pakistan Chambers of Commerce and Industries (FPCCI) Irfan Iqbal Sheikh.
The two sides agreed to establish a joint trade council between the two countries and to devise a mechanism for the resolution of trade disputes.
The agreed upon joint trade council is expected to work alongside Iran-Pakistan Joint Chamber of Commerce to help promote economic relations between the two neighboring countries.
Speaking during an earlier meeting with his Pakistani counterpart, the Iran Chamber of Commerce president said that the two countries plan to increase bilateral trade to $5 billion.
Forming a joint trade council will also be an exceptional opportunity, he said, calling on all those involved in Trade between Iran and Pakistan to become a member of this council.