KARACHI: President of the Korangi Association of Trade and Industry (KATI), Junaid Naqi has emphasised that trade between Iran and Pakistan could reach up to $10 billion, a significant increase from the current bilateral trade volume of $2.4 billion.
Naqi pointed out that Pakistan’s share in the existing trade volume is one-third less than anticipated.
He highlighted the impressive performance of Iran’s trade, which has surpassed $100 billion despite global sanctions, underscoring the potential for further collaboration between the two neighbouring countries. Naqi shared these remarks during a meeting with an Iranian trade delegation, led by Jafar Allavardiha, Chairman of the Qazvin Chamber of Commerce, Industry, Mines and Agriculture, and Morad Nemati, Commercial Attaché of the Iranian Consulate.
The event was also attended by KATI’s Senior Vice President Ijaz Sheikh, Standing Committee Chairman Rashid Siddiqui, former Chairman Gulzar Feroze, and various members of the Iranian delegation, including Mahdi Jabbari, Wahid Asghar, Ahmad Shayan, Mostafa Jafari, Sepehrnejad, Ataollah Alijani, Amir Shahmohammadi, Mohsen Rezaei, Seyed Amir Mohammad Katibi, Esmaeil Ghafouri, Amir Hossein Mostafazadeh, Hasnain Homai and others.
Naqi emphasised the historical and strategic importance of Pakistan’s relationship with Iran, noting that Iran was the first country to recognize Pakistan after its independence. He also pointed out the vast opportunities available in key sectors, such as textiles, pharmaceuticals, leather, and food products, where trade volumes can be increased significantly.
Naqi announced that a trade delegation from KATI will participate in the Iran Expo 2025.
He also invited Pakistani exporters and industrialists to engage more actively with Iranian counterparts, offering full support and guidance. “KATI represents a major industrial zone in Pakistan, home to top exporters who are ready to assist Iranian investors,” he stated.
Jafar Allavardiha, Chairman of the Qazvin Chamber, noted the significant trade opportunities between the two countries, citing Iran’s cheap energy resources and Pakistan’s strategic access to the Middle Eastern market due to low transportation costs.
Copyright Business Recorder, 2024
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