Pakistan business community eager to promote trade with Iran

EghtesadOnline: The business community of Pakistan's Punjab province as the industrial hub of the country, has urged upon the government to take measures for enhancing trade with Iran.

News ID: ۷۳۶۶۶۵

06 September 2016

President of Multan Chamber of Commerce & Industry (MCCI) Fareed Mughis Sheikh said that Pakistan can export textile, leather products, rice and agro products, surgical instruments, etc to Iran and import many necessary items from Iran for the purpose of enhancing bilateral trade, according to IRNA.

He said the present level of economic relations was not satisfactory and there was a dire need to increase it.

He said, at present, the volume of trade is only $830 million, adding that with sharing capacity of both the countries, we can achieve higher figures.

He stressed the need for sending delegations particularly from south Punjab to Iran to introduce the local product.

Farid Sheikh further said that Pakistan needs to implement Pak-Iran gas pipeline project as early as possible and it should remove all hurdles in this way.

Also, Pakistan Adviser to the Prime Minister on Foreign Affairs Sartaj Aziz has informed country's National Assembly that volume of bilateral trade between Pakistan and Iran would reach $5 billion in coming years.

Responding to a question, he said Pak-Iran trade volume was around $1.6 billion annually before international sanctions on Iran, which was reduced to less than one billion.

He said during the meeting between Prime Minister Muhammad Nawaz Sharif and the Iranian President Hassan Rouhan, it was agreed to enhance the trade between two countries.

Banking system between Iran and Pakistan had become functional while work on Pakistan-Iran gas pipeline had also started, Sartaj Aziz added.