Jun 2, 2021, 11:43 AM
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Pakistan says process of setting up three border markets with Iran underway

Islamabad, June 2, IRNA -- Adviser to Prime Minister of Pakistan for Commerce and Investment says three border markets are now being established at the border with Iran while the Federal Board of Revenue (FBR) has announced the second official border with Iran as International Road Transport (TIR).

Abdul Razak Dawood in a series of tweets said that the Ministry of Commerce is establishing the border markets under the MoU signed between Pakistan and Iran in April 2021.

“MOC is pleased to inform that the MoU to establish Border Markets along the border was signed between Pakistan and Iran in April 2021,” he said.

He further said three Border Markets are now being established at Gabd, Mand, and Chedgi in Balochistan, near our border with Iran.

“These will not only enhance bilateral trade but it would also provide economic opportunities and sustenance to people residing in the border areas,” he noted.

Earlier, the Pakistani Prime Minister had said that all government efforts are focused on developing legal trade on the joint borders of Iran and Pakistan, noting that joint border markets will be functional in next few months.

During Pakistani Foreign Minister's visit to Tehran in April, the Iranian and Pakistani foreign ministers signed a memorandum of understanding to establish joint border markets with the aim of strengthening cross-border economic exchanges.

Pakistan says process of setting up three border markets with Iran underway

Meanwhile the Federal Board of Revenue (FBR) has notified Gabd (Gwadar) as International Road Transport (TIR) border crossing point according to the TIR Convention 2017.

Pakistan became a member of TIR Convention 2017 which has 77 contracting parties including China, Afghanistan, Iran, Turkey, and all Central Asian Republics (CARs).

In December, 2020 Gabd (Pakistan)-Reemdan (Iran) has been upgraded to international border crossing and now passengers/drivers can cross this border with valid visa.

Consequently, FBR has notified Gabd as TIR border crossing point located at a distance of 87 km from Gwadar on Pak-Iran border and end point of Coastal Highway (N-10).

Gabd is located at a distance of 137 km from Chabahar Port and this Gabd-Reemdan route will play a vital in connecting the two ports of Gwadar and Chabahar and thus synergizing their potentials.

Moreover, it provides additional route from coastal areas of Balochistan and Sindh to Iran and Turkey and Azerbaijan in addition to the already available route of Taftan-Mirjaveh (Iran).

The objective of the TIR Convention is to facilitate international transit through simplified and hassle free customs transit procedures and an international guarantee system.

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