MAND-PISHIN BORDER SUSTENANCE MARKETPLACE

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Context: Pakistan and Iran have recently inaugurated a new border market at Mand-Pishin, a border crossing point between the two countries.

Details

• The market is one of the six planned border markets that aim to boost cross-border trade, economic growth, and social welfare for the people living in the provinces of Balochistan.
• The inauguration of the market was jointly performed by the Prime Minister of Pakistan and the President of Iran on May 18, 2023.
  • The two leaders also inaugurated the Polan-Gabd Electricity Transmission Line, which will bring in an additional 100 MW of electricity from Iran to meet the energy needs of the region.
• The joint inauguration was a manifestation of the strong commitment of Pakistan and Iran to enhance their bilateral relations and cooperation in various fields, such as trade, energy, connectivity, security, and cultural exchange.
• The two leaders also discussed other issues of mutual interest and agreed to finalize the Free Trade Agreement (FTA) and explore the potential of linking the China-Pakistan Economic Corridor (CPEC) with Iran.

Mand-Pishin Border Sustenance Marketplace

• The Marketplace is expected to provide a thriving platform for local businesses, especially small and medium enterprises, to sell and buy goods and services across the border.
• It will facilitate legal trade and curb smuggling and illegal activities that harm both countries economies.
• It will offer a variety of products, such as agricultural produce, handicrafts, textiles, carpets, leather goods, minerals, and other items that reflect the rich culture and heritage of both countries.
• It will create employment opportunities for the local population and improve their living standards.

Conclusion

• The Mand-Pishin Border Sustenance Marketplace is a milestone in the history of Pak-Iran relations and a symbol of friendship and goodwill between the two countries. It is hoped that the market will pave the way for more such initiatives that will benefit both nations and promote peace and stability in the region.

Must Read Articles:

China–Pakistan Economic Corridor: https://www.iasgyan.in/daily-current-affairs/cpec

 Free Trade Agreement: https://www.iasgyan.in/daily-current-affairs/free-trade-agreement-48

https://indianexpress.com/article/explained/explained-global/pakistan-and-iran-inaugurate-border-market-8618781/