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Pakistan

Iranian envoy tells FCCI: Trade volume of around $6.25bn exists with Pakistan despite pressures

The volume of bilateral trade between Pakistan and Iran is around US$6.25 billion despite of pressures and threats, disclosed Iranian Consul General Lahore Mohammad Reza Nazeri
Published 06 Dec, 2019 12:00am
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The volume of bilateral trade between Pakistan and Iran is around US$6.25 billion despite of pressures and threats, disclosed Iranian Consul General Lahore Mohammad Reza Nazeri

He was addressing the business community in Faisalabad Chamber of Commerce and Industry (FCCI) here Thursday. He said that out of this total trade US$1.26 billion is channelized through traditional while the remaining US$5 billion is carried out through non-traditional means.

He mentioned close social, cultural and economic relations between two brotherly countries and said that Iran was the first country who recognized Pakistan as a sovereign and independent Islamic state on the face of the world. He endorsed that Pakistan is a hub of socio-economic and agricultural activities in this region but the trade volume between Pakistan and Iran is almost half of their potential.

He also endorsed the proposal to ink MoU between FCCI and Tehran Chamber of Commerce and Industry to give a quantum jump to the bilateral trade. He said that a proposal was also under consideration to start a direct flight from Faisalabad to Tehran while he will discuss with Iranian investors to organize single country exhibitions in Pakistan as well Iran. He hoped that Pakistani exporters will actively participate in exhibitions being organized regularly in Iran.

Reza Nazeri said that an Iranian economic delegation is expected to visit Karachi and Lahore during next month. He assured that he will invite leading businessmen from Faisalabad to have direct meeting with this delegation at Lahore or he will convince the delegation to visit Faisalabad.

'This visit of delegation will certainly open new avenues of cooperation and trade between the Iran and Pakistan which is being carried out currently through other countries,' he added.

About lack of banking facilities, he said that MoU will be signed between Quetta and Zahdan Chambers to streamline the barter system. He also mentioned Pak-Iran Joint Barter Trade Committee and said that it has fixed the prices of different commodities in local currencies while list of tradable items have also been exchanged.

He said that among 192 countries Iran has the biggest reservoirs of gas but the Iranian government wants to preserve this precious asset for the coming generations.

Copyright Business Recorder, 2019

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