During a ceremony on Thursday, Raisi and Sherif also launched an electricity exchange line between the two countries in the same region.
The opening of the Pishin retail market is seen as an important development that can positively affect the economic situation of residents in the border areas.
Speaking to reporters, Mobin Ali Mir, the manager of border markets in Sistan and Baluchestan, said 6,000 households in Pishin and other nearby regions will benefit from discounts at the new retail market.
The retail market, he added, will help businesses flourish and create employment for residents of border regions as well.
Retail bazaars have been set up to support border residents, who will be able to engage in trade worth up to $400 per week without customs formalities, he added.
Five other similar border markets are also under construction in the province, according to the official.