Tehran – Businessmen and industrialists of Pakistan’s Balochistan province have been invited by an Iranian delegation to start joint ventures in the Mirjaveh Free Zone, with a number of incentives given to trade bilaterally.
The proposal was made at a meeting in Quetta with members of several local chambers of commerce, spelling out an initiative to formalize and broaden economic relations between the two neighbors. Iranian Consul General in Quetta, Ali Reza Rajaei, and the President of Zahedan Chamber of Commerce and Industry, Abdul Hakim Regi, extended the invitation.
The officials highlighted that Iran is ready to offer complete facilities and incentives to Pakistani investors, which serves as a testament to the need to involve the private sector in achieving the target bilateral trade of $10 billion.
This initiative is a continuation of a string of high-level agreements signed in Islamabad lately to enhance economic and security collaborations. Iranian officials observed that formal agreements are positive but need the active collaboration of the business groups on both sides of the border to make them effective.
The Mirjaveh Free Zone is in a strategic position between Pakistan’s Balochistan province and the Iranian Sistan and Baluchestan province. The idea behind free zones is to attract foreign investments and drive economic growth through incentives like tax exemptions, waivers of customs duties, and 100 percent ownership.
To companies in Balochistan, it may offer a formal and regulated avenue to a large neighboring market, which could alleviate problems related to informal trade, which has long been an economic lifeline to many in the region.
The Iranian delegation also congratulated the Balochistan business community on the resumption of flight services between Quetta and Zahedan through Mashhad in the meeting, which was considered a major step in enhancing cross-border connectivity.
In the words of the Iranian delegation, “Pakistan, Iran, and Afghanistan are different in geography but share similar economic interests, and trade barriers need to be lifted in unity.”
The joint ventures in the Mirjaveh Free Zone are a concrete measure towards translating diplomatic accords into practical economic prospects for both businesses and communities across the border.
