After three days of closed-door deliberations in Islamabad, Pakistan and Iran have wrapped up the 10th session of their Joint Trade Committee with tangible movement on the technical groundwork for a long-discussed Free Trade Agreement. The breakthrough, officials say, clears the path toward finalizing a pact both nations hope will unlock a tenfold increase in bilateral commerce. Main Developments Commerce Minister Jam Kamal Khan and Iran's Minister of Industry, Mines and Trade, Dr Mohammad Atabak, jointly presided over the closing session, where they signed the agreed minutes reflecting consensus reached during the talks. The formal announcement confirmed both sides welcomed progress on the proposed FTA, including rules of origin, tariff-reduction modalities, and product lists. Beyond the trade agreement framework, discussions expanded into barter trade mechanisms, business-to-business linkages, industrial cooperation, and investment promotion. The two delegations also committed to boosting private-sector participation and activating joint border markets as part of the broader economic agenda. Read also: Why US firms are betting on Pakistan's critical minerals Infrastructure featured prominently in the deliberations, with agreements to improve trade facilitation, customs coordination, transport, and logistics. Both sides pledged to upgrade border infrastructure to ensure smoother movement of commercial cargo, particularly perishable goods that depend on speedy cross-border transit. Background The JTC meeting, co-chaired on its opening day by Khan and Atabak, marks the tenth round of this bilateral mechanism aimed at deepening economic ties. For years, Pakistan and Iran have explored ways to expand trade beyond their current levels, with the ambitious $10 billion annual target serving as a recurring benchmark in their negotiations. Technical-level talks initiated during this session represent a significant step forward, as previous rounds had yet to reach the granular details of tariff schedules and product classifications. The Iranian delegation, comprising six members, also secured a meeting with Prime Minister Shehbaz Sharif during their Islamabad visit. Why It Matters Realizing the FTA would fundamentally reshape trade dynamics between the two neighbors, potentially multiplying current commerce volumes. The $10 billion target represents a dramatic escalation from existing trade levels, which would require substantial improvements in border infrastructure and customs harmonization to become achievable. Sharif emphasized Pakistan's deep value for its ties with Iran, calling the country a brotherly neighbor, while Atabak praised Islamabad's diplomatic efforts for regional peace. These political signals suggest the economic track is intertwined with broader regional diplomacy, adding strategic weight to the commercial negotiations. What's Next No specific deadline has been announced for completing the FTA or reaching the $10 billion trade milestone. However, both ministers stressed the importance of sustained coordination and timely implementation of decisions made during this session before the next Joint Trade Committee meeting convenes. Border crossings are slated to operate round the clock under the new understandings, a move designed to keep commercial traffic flowing continuously. The coming months will reveal whether the technical momentum from this round translates into a signed agreement or stalls in the detailed negotiations that remain.