Pakistan Targets $10 Billion Iran Trade by 2028 as Budget Pushes Regional Reform Agenda
Updated
Updated · DAWN.com · Jul 9
Pakistan Targets $10 Billion Iran Trade by 2028 as Budget Pushes Regional Reform Agenda
1 articles · Updated · DAWN.com · Jul 9
Summary
$10 billion in Iran trade by 2028 anchors Pakistan’s new economic pitch, with the budget pairing IMF-linked fiscal discipline with reforms aimed at turning regional peace into export- and investment-led growth.
The plan hinges on implementation—lowering business costs, broadening the tax base, privatizing state firms, improving security and energy pricing, and setting measurable milestones under close government oversight.
Iran offers the biggest immediate opening: Pakistan wants to expand exports, use six border markets and new transit routes, revive the gas pipeline, buy discounted crude if sanctions ease, and import more electricity for Gwadar.
Türkiye is framed as a manufacturing and technology partner, with both sides targeting trade growth from $1 billion to $5 billion in three years and seeking Turkish investment in labor-intensive industries.
Saudi Arabia remains central through a delayed refinery and petrochemical complex first proposed in 2021, which Pakistan says could be financed partly by converting nearly $12 billion in friendly-country deposits into productive investment.
With a defense pact with Riyadh, can Pakistan's ambitious $10 billion trade deal with rival Tehran truly materialize?
Is Pakistan's pivot from foreign aid to investment a genuine path to self-reliance or just a new form of dependency?
After its Saudi pact derailed US-Iran talks, can Pakistan regain its status as a trusted neutral peace broker?
Achieving $10 Billion in Pakistan-Iran Trade by 2028: Opportunities, Obstacles, and Regional Dynamics
Overview
Pakistan and Iran have set a bold goal to boost their bilateral trade to $10 billion by 2028, driven by strong political will and a shared vision for deeper economic integration. This ambition is supported by high-level engagements, such as meetings between regional leaders and proposals to involve officials from key sectors, all aimed at overcoming hurdles and expanding cooperation. By focusing on practical measures to facilitate cross-border trade and capitalizing on shared interests, both countries are taking concrete steps to build the necessary frameworks and momentum to achieve this significant trade milestone.