FNA- The 2nd round of negotiations on Free Trade Agreement (FTA) between Iran and Pakistan is due to start in Islamabad on Monday.

During the meeting, the two sides will discuss ways and means for enhancing bilateral trade ties.

Reviewing mutual trade list and FTAs text will be on the agenda of talks for finalizing the agreement, a senior official of Pakistan's Ministry of Commerce said.

He said that the Iranian delegation would reach Islamabad on July 10 for negotiations as FTAs between the two countries was scheduled from July 10-12.

“We are looking forward for talks to enhance bilateral trade with Iran,” he added.

The 1st round of FTA talks was held between the two countries in April during the 20th Joint Ministerial Commission (JEC) meeting in Tehran.

Iran and Pakistan have agreed to increase annual trade volume to $5 billion by 2021.

In relevant remarks in April, Iranian Foreign Minister Mohammad Javad Zarif in a meeting with Pakistani National Assembly Speaker Sardar Ayaz Sadiq in Tehran underlined the importance of boosting economic relations between the two countries.

“Tehran is ready to export gas and electricity to Pakistan,” Zarif said during the meeting.

The Iranian foreign minister said that Iran and Pakistan enjoy very good relations not only in the diplomatic arena, but also in the parliamentary, security and economic sectors.

“We welcome Islamabad’s participation in the project to develop Iran’s southeastern port of Chabahar,” Zarif added.

“The security of Pakistan is of high significance for the Islamic Republic of Iran,” the top Iranian diplomat also pointed out.

Chabahar is located in the Gulf of Oman on the border with Pakistan. It is the closest and best access point of Iran to the Indian Ocean.