‘Enough room to boost Pak-Iran bilateral trade’
Speaking at a meeting with Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Haji Fazal Kadir Khan Sherani in Peshawar, Iranian Consul General Abbas Ali Abdollahi said Iran extensive trade ties with many nations but it wants to improve its bilateral trade ties with Pakistan further, as Iran and Pakistan can increase trade up to $10 billion.
He said Pakistani textile products reach Iran via third countries, while they should be exported to Iran directly.
Iran and Pakistan had earlier agreed to barter trade in rice, wheat, meat and fruit, vegetable, oil and iron ores.
He also informed that “our consul offices are issuing multiple visa of six months to Pakistani businessmen”, suggesting that the two countries should start trading in their local currencies instead of any other currency.
Speaking on the occasion, Sherani said that Pak-Iran relations are deeply rooted in the history and heritage, adding that both countries are amongst the founding members of ECO and OIC.
“The Iranian government has pledged $330 million through the Friends of Democratic Pakistan (FoDP) initiative. Iran and Pakistan have implemented PTA in 2006; however, the current volume of bilateral trade between the two countries is not reflective of the true potentials of the two countries,” he added.
“New items in present PTA should be included and increase extent of concession on some items already in the PTA. Both countries should enhance trade promotion activities under the existing Preferential Trade Agreement,” he added.
Sherani also emphasized the harmonization between the rules and regulations of the two countries required to determine the balanced strategies regarding trade cooperation.
He further added that Iran-Pakistan gas pipeline between energy deficient Pakistan and energy rich Iran is a feasible and doable project.
For the promotion of trade, single country exhibition, and exchange of delegations were proposed during the meeting. It was also informed that a delegation from Iran headed by Tehran Chambers of Commerce, Industry and Mines President Yaha Ale Ishaq will visit Pakistan in September this year.