KARACHI: The leaders of United Business Group (UBG) S M Tanveer, Zubair Tufail, Khalid Tawab, Hanif Gohar, Mazher A Nasir and other extend a warm welcome to Iranian President Ebrahim Raisi on his three-day visit to Pakistan, which is poised to open new avenues for promoting bilateral trade and economic relations between both countries.

Accompanied by a large business delegation, President Raisi’s visit signals a clear intention to foster closer ties within the business community.

During his visit, discussions are expected to focus on the progress of joint gas projects aimed at resolving Pakistan’s longstanding power crisis, which has hindered economic growth. Of particular interest is the proposed $7.5 billion Iran-Pakistan gas pipeline project, which aims to supply gas to power plants in Pakistan, leaders added.

UBG emphasises the significant potential for Pakistan and Iran to enhance bilateral trade to $5 billion. Currently, Iran’s exports to Pakistan amount to $1.448 billion, while Pakistan’s exports to Iran stand at $842 million.

Copyright Business Recorder, 2024


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