FRIDAY SEPTEMBER 09: Economic cooperation, JIC, electronic media: Pakistan and Iran ink three MoUs

ISLAMABAD: Pakistan and Iran signed Memorandums of Understanding (MoUs) on Thursday to enhance economic and technical co-operation, set up joint investment company as well as collaborate in electronic media and to minimise if not possible to completely do away with tariff and non-tariff barriers to fully exploit the trade potential.
At the conclusion of the two-day session of 18th Pak-Iran Joint Economic Commission, Finance Minister Dr Abdul Hafeez Sheikh and Iranian Foreign Minister Dr Ali Akbar Saleh signed the agreed minutes of the session prior to inking MoU on economic and technical co-operation followed by second MoU signed by Secretary Ministry of Information and Iran Ambassador on co-operation between state owned electronic media of both the countries whereas the third MoU was signed for Pak-Iran Investment Company.
The delegation from both countries presented various proposals to enhance bilateral trade and industrial development, joint ventures, lifting of visa & export-import restrictions, promotion of banking, communications, information technology, media development, industrial and agricultural development, import of gas and electricity to Pakistan and co-operation in other areas of mutual interest such as education, health, culture, tourism, etc.
Speaking to media after signing of agreed minutes and MoUs, Finance Minister Dr Abdul Hafeez Sheikh described the two-day deliberations for co-operation in various domains as productive and meaningful as the two sides extensively discussed ways and means for bilateral co-operation.
Additionally, Hafeez Sheikh said that the joint session also formed working group on energy to expedite import of 100 MW for Gwadar and 1000 MW for adding to national grid as well as enhancing bilateral trade by reviewing tariff and non-tariff barriers and involving private sector of the two countries. The minister said both sides have agreed in principle to also promote rail link. Hafeez said there is a will to minimise if not possible to completely do away with tariff and non-tariff barriers and Pakistan was given assurance in this regard. Foreign Minister of Iran, Ali Akbar Saleh said Pakistan and Iran are passing through transition and both the countries require to work together to face regional and global challenges.
"We have agreed to expand and enhance bilateral relation for the benefit of 250 million people living in two countries, he said, adding that during the two days negotiations many important agreements have been reached for expansion of bilateral relations in various domains." Ali Akbar said work on Iran-Pakistan gas pipeline is under way and pipeline from the Iranian side has almost reached Pakistani border and would be ready in time. "IP gas pipeline would eventually be a pipeline of peace," he remarked.