Iran-Pakistan friendship

Enhancing trade with Pakistan, priority of Iran: Envoy

 IRNA – Consul-General of Iran in Pakistan’s Lahore says that enhancing trade with Pakistan is a priority of his country, state media reported.

Speaking at a farewell party, arranged at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) here, Hossein Bani Assadi said, “Iranian government is ready to facilitate Pakistani business community. We are ready for cooperation in banking sector between the two countries.

“However, there is dire need for involvement of Pakistani business community for trade promotion.”

Bani Assadi said that peace and security of Pakistan and Iran were associated with each other and both were important countries of the region as they shared political and cultural ties.

The consul-general said that the business communities in the two countries would have to increase interaction to share their experiences in the larger interest of the peoples of the two brotherly nations.

He said that the volume of mutual trade between Pakistan and Iran did not match their respective potentials, asserting that chambers of commerce in the two countries would have to focus on expansion of trade by holding single country exhibitions and exchanging trade delegations.

On this occasion, FPCCI Regional Chairman and Vice President Manzoorul Haq Malik highlighted many points related to bilateral trade including removal of non-tariff barriers, enhancement of private sector cooperation and joint investment, holding of a single country exhibition, direct flights between Pakistan and Iran, removal of border trade barriers, facilitating transit trade, engineering and consultancy services, etc.

Malik said that Pakistan and Iran were the two biggest Islamic countries in the region, and hence had a lot of responsibilities to shoulder. Both countries could work together for a better future not only for the better future of their respective nations, but also for the entire region.

Iran and Pakistan have agreed to increase annual trade volume to $5 billion by 2021.

In a major development after the JCPOA, the central banks of the two countries have signed an agreement to resume the banking channel.

Last year volume of trade between Iran and Pakistan increased to more than $1 billion which shows a growing trend after the JCPOA.