After years of negotiations, world powers finally reached a deal with Iran on limiting Iran’s nuclear activity in return for lifting the long imposed sanctions. The deal will have far reaching effects throughout the world but particularly for the Middle East region, however, time will tell whether the deal will increase or decrease the political turmoil in the region. The historic deal between Iran and major world powers presents a momentous opportunity for Pakistan to expand economic cooperation with its western neighbor. The potential of economic relations between Pakistan and Iran is immense.
Pakistan’s Foreign Office also welcomed the success of the deal. Sartaj Aziz the Adviser to Prime Minster on Foreign Affairs also pointed to the fact that the deal has opened up countless opportunities of collaboration with Iran, the Pakistan-Iran gas pipeline being the key project among the various opportunities. The Pakistan-Iran gas pipeline project was launched in 2010 was aimed at an 1800 kilometer long pipeline from Iran to energy starved Pakistan. The success of the project will provide a tremendous boost to the Pakistani economy; the project has the potential to propel the energy starved Pakistani industry to a major success story. With sanctions or Iran being lifted there is also the possibility of extending the China Pakistan Economic Corridor to Iran and on to Central Asian countries that will boost trade in the entire region.
The onus is now on the Pakistan Government to make the most of this extraordinary opportunity which can solve Pakistan’s decades old energy crisis and push the country towards economic prosperity. The coming months will show whether the Government is serious in taking the ties with Iran to a new level or are we going to hold back due to the tension between Iran and Saudi Arab.
The Iranian nuclear deal has presented Pakistan with the chance to take economic ties with Iran to a new level.