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The Islamic Republic News Agency reported Wednesday that Pakistan’s Ambassador to Iran Mohammad Bakhsh Abbasi announced the upcoming summit in the capital Tehran during a news conference highlighting the “Defense Day of Pakistan.” Abbasi did not mention the venue of the summit. Addressing journalists Abbasi said he was optimistic that because Iran’s recent negotiations with members of the 5 plus 1 Group (France, Britain, Russia, China, the United States and Germany) were successful, Iran could continue to defend its rights as an independent country. Turning to economic matters the ambassador observed, “Tehran’s and Islamabad’s trade stood at $1 billion this year, of which 80 percent consisted of Iran’s oil exports to Pakistan.”

Energy also forms a significant part of Afghan-Iranian trade, which in 2008 reached $500 million. Of Iran’s exports, oil accounts for nearly 45 percent of the country’s revenue.