(MENAFN) Pakistan is very hopeful of expanding ties with Iran, as recently revealed by top officials, thus Pakistani businessmen are currently in Iran to discover ways to extend trade and economic affairs.

In accordance, Pakistan seeks to eventually grow joint trade between the two nations to a significant USD5 billion in three years, hence to expand and span across all vital sectors especially energy and manufacturing.

Additionally, Pakistanis businessmen and top companies are looking forward to setting up industrial plants or open offices in Iran, mostly in pharmaceuticals, plastics, as well as automation services.

According to a ministerial meeting's decision in mid-February, Pakistan has decided to lift sanctions against the Islamic Republic and has devised a strategy to promote trade ties with the oil rich country.