Pakistan and Iran to Establish Special Economic Zone
By
April 21, 2024
Pakistan and Iran have decided to create a special economic zone together to strengthen their economic ties, as reported by ARY News. The federal cabinet has approved the signing of a Memorandum of Understanding (MoU) with Iran during President Ebrahim Raisi’s upcoming visit to Pakistan on April 22.
The two countries have finalized the MoU, and the special economic zone will be established at the Ramdan-Gabad border. It’s going to be a government-to-government initiative.
Foreign Minister Ishaq Dar confirmed President Raisi’s visit, stating it’s not related to recent tensions between Iran and Israel. President Raisi will meet with President Asif Ali Zardari, Prime Minister Shehbaz Sharif, and Chief of Army Staff General Asim Munir during his three-day trip.
Discussions during the visit will likely focus on border security, the Iran-Pakistan gas pipeline, trade, economic cooperation, and other mutual interests. Earlier tensions between the two countries, including Pakistan’s retaliatory strikes against Iranian border attacks, had strained relations. However, diplomatic ties have since been restored, with ambassadors returning to their posts.
