Iran will supply 100 megawatts electricity daily to Pakistan’s Gwadar port city, Prime Minister Shehbaz Sharif said on Thursday at the inauguration of a new transmission line.

PM Shehbaz and Iranian President Ebrahim Raisi inaugurated the Pakistan-Iran border market on Thursday. Upon arrival at the Mand-Pishin border, the PM was received by the Irani President.

Foreign Minister Bilawal Bhutto, Akhtar Mengal, Khalid Magsi, and other federal ministers are also accompanying Shahbaz Sharif.

The two leaders inspected the Pak-Iran border market and were briefed about the facilities in the market.

The two leaders also planted a sapling on the premises of the border market as a gesture to stride forward in the bilateral relationship between the two countries.

“Both Pakistan and Iran are deeply committed to achieving an annual trade volume of $5 billion. In this regard, the operationalization of the barter trade mechanism is a significant step,” said a statement from the Iranian ministry.

Sharing details of his meeting with the Iran president, he said, “This is decided today (Thursday) that we are going to finalise a free trade agreement on priority basises.”
He said that both parties highlighted the room for improvement in power-sharing between both countries as well as in solar energy.

Shehbaz terming the meeting with Iran’s President very positive and progressive said that the marketplace, which was inaugurated on both sides of the border, will prove as an opportunity for surrounding areas to grow financially.

“The market would provide a thriving platform for increasing cross-border trade, fostering economic growth, and opening up new avenues of opportunity for local businesses.”

Moreover, the prime minister said that he invited the president to visit Pakistan, which he accepted.

As many as six markets would be constructed along the border. The head of markets of Sistan and Baluchestan Province noted that booths of the market will be exclusively for local residents. Mobin Ali Mir stressed that such markets can play a significant role in improving the economic condition of local people.

In addition, a 100 MW Power Project was also inaugurated. Prime Minister Shehbaz Sharif also met local businessmen.

The agreement for the increased power exchange was signed back on March 12 in Tehran between Pakistani Energy Minister Khurram Dastgir Khan and his Iranian counterpart Ali Akbar Mehrabian.

The Foreign Office in a statement said, “The joint inauguration is a manifestation of the strong commitment of Pakistan and Iran to uplift the welfare of residents of the neighboring provinces of Balochistan and Sistan-o-Baluchestan, respectively.”

In another tweet Bilawal said he had visited the Mand-Pishin border market, and called it a ‘new chapter’ in brotherly ties with Iran.

“This will ameliorate the socioeconomic conditions of our border regions, & also foster new opportunities for local businesses,” Bilawal Bhutto Zardari said.