An official statement of the Ministry of Commerce (MoC) said that these markets are being established in light of the memorandum of understanding (MoU) signed between the two countries in April.
These markets will not only enhance bilateral trade, but they would also provide economic opportunities and sustenance to people residing in the border areas.
The Anti-Smuggling Steering Committee constituted for the rehabilitation of people living along the borders, affected by the anti-smuggling drive had recommended the establishment of Joint Border Markets in November 2019.
The commerce ministry, responsible for border trade under Rules of Business 1973, was assigned the task.
Subsequently, after field visits by the technical teams of two sides, they signed an MoU in April. Three pilot projects of Border Sustenance Market Places are being established at Chegdi-Kohak (Panjgur District), Mand-Pishin (Kech District) and Gabd-Rimdan (Gwadar District).
The list of commodities to be traded in the market places and the tariff concessions will be subsequently finalized by the two sides in accordance with the MoU. The three pilot projects will be funded by the federal government.
It may be recalled that Pakistan and Iran had held a virtual meeting in March 2021 for opening up these border markets. To read details click https://shkazmipk.blogspot.com/2021/03/iran-and-pakistan-to-develop-joint.html.
