PESHAWAR: An endeavour to further strengthen the bilateral trade and economic relations between Pakistan and Iran, Sarhad Chamber of Commerce and Industry (SCCI) has signed a memorandum of understanding (MoU) with Mashhad Chamber of Commerce and Industry, Mine and Agriculture (MCCIMA), Islamic Republic of Iran.

In this regard, a memorandum of understandings (MoUs) was formally signed by SCCI president Muhammad Ishaq and Iranian Consul General in Peshawar, Hamid Reza Ghomi on behalf of Engr Gholam-Hossein Shafee, head of Mashhad Chamber of Commerce and Industry, Mine and Agriculture (MCCIMA), Iran here during a meeting at Chamber’s House, said in a statement issued here on Sunday.

Shahid Hussain, senior vice president and Ejaz Khan Afridi, vice president of the chamber, Hossein Maliki, first consul general/commercial attaché, Iranian Consulate Peshawar, officers and translator were present on the occasion.

As per essence of the agreement, both sides would make concerted efforts and initiatives to further improve Pak-Iran mutual trade and economic ties, establish close contacts between business communities of the both countries, launching joint ventures, organizing trade exhibitions, seminars, exploitation of potentials/resources, research and investment avenues/ opportunities.

Muhammad Ishaq in his key-note remarks on the occasion called the agreement as a milestone move, which would open new avenues of investments, common initiatives, joint ventures and trade between two brotherly Islamic countries.

Trade prospects between Pakistan and Iran are brighter, says SCCI chief. He added modalities would be framed in joint consultation with the business community of Iran and Khyber Pakhtunkhwa to give a way forward and remove hurdles in Pak-Iran bilateral trade.

I am very optimistic about further strengthening trade and economic ties between the two brotherly Islamic countries after striking this important MoUs, Mr Ishaq said. He remarked a joint mechanism would be devised to sort out a viable solution of all issues that were hampering Pak-Iran mutual trade.

Improving bilateral trade with Iran and regional countries is imperative, he stressed. However, he called for removal of hurdles in this regard.

Ishaq said SCCI is striving to boost up trade, mutual economic and trade ties with Iran and signing this MoUs with MCCIMA was a part of these efforts. He added practical initiatives would be made to bring bilateral trade and economic relations to new heights.

Hamid Reza Ghomi while speaking on the occasion expressed high optimism about improving Iran-Pak bilateral trade and economic relations in the coming days. He added the MoUs between SCCI and MCCIMA would play a vital role in this regard.

The MoU between SCCI, MCCIMA would set a new direction toward Iran-Pak mutual trade and economic relations, the Iranian diplomat said.

Shahid Hussain and Ejaz Khan Afridi also spoke on the occasion and termed the MoUs as a major initiative, which will play an important role in improving Pak-Iran bilateral trade volume.

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