Islamabad, IRNA - Pakistan's ambassador to Iran has emphasized the need to implement the clearing mechanism between the two countries and speed up the process of signing the free trade agreement (FTA).

According to IRNA's report on Sunday, Mohammad Mudassar announced on his official X social network about his meeting with Mahmoud Najafi Arab, the head of the Tehran Chamber of Commerce, Industries, Mines and Agriculture.

We agreed that Iran and Pakistan need to speed up the process of signing a free trade agreement, a joint free industrial zone on the border, and implement a clearing mechanism in bilateral trade, he said.

The Pakistani ambassador also called for enhancing cooperation between Tehran and Karachi Chambers of Commerce.

During the official visit of Hossein Amirabdollahian, Iran’s Foreign Minister to Pakistan in August last year, the two neighbors signed a commercial and economic cooperation document.

During a meeting with the officials of the Islamabad Chamber of Commerce last week, Iran's ambassador to Pakistan also hinted about the free trade agreement.

Reza Amiri Moghaddam said that the comprehensive development of bilateral relations will be on the agenda during President Ebrahim Raisi’s planned visit to Islamabad.

The current annual bilateral trade volume between Pakistan and Iran is $2.5 billion.