Leader of Iranian trade delegation and Chairman Tehran Chamber of Commerce & Industry (TCCI), Masoud Khansari has said vast prospect exists to increase trade volume of Iran and Pakistan to US 13 billion dollars.

Speaking at a meeting of Korangi Association of Trade and Industry (KATI), he said that business community of both countries can play a vital role to expand trade and economic relation.

He said that industry in Iran was trying to produce maximum of country's needs and we are exploring our regional markets for trade. He said that prime motive of this delegation is to explore opportunities and potential of Pakistani industry and business.

President KATI Sheikh Umer Rehan said that along with establishing banking channel between Iran and Pakistan there is a lot to do for removing hurdles in the way of expending trade relations between Iran and Pakistan. He said that undocumented and informal trade between the two countries is far ahead of formal trade.

"This issue must be addressed," he added. Masood Naqi was of view that Iran and Pakistan were facing various similar challenges regarding FATF and especially the business communities of both countries can play their role to face those challenges.